China's banking system is in free fall and the country's real estate losses could hit $4 trillion, veteran investor says

• China's banking sector is in free-fall, according to market veteran Kyle Bass.
• The Hayman Capital CIO estimated China could see at least $4 trillion in real estate losses.
• An unchecked boom in real estate development in China has led to a deep crisis, experts say. 

China's banking system is collapsing, and the real estate crisis in the country could end up wiping out $4 trillion from its financial system, according to veteran investor Kyle Bass.