Mortgage loans ease
Print Edition
PROPERTY loans offered to individual purchasers in China grew at a slower pace in the second quarter due to government restrictions in major cities, data from the central bank showed.
By the end of last month, financial institutions had lent 23.84 trillion yuan (US$3.5 trillion) to individual property buyers, up 18.6 percent year on year, according to a report from the People’s Bank of China. The growth was 1.4 percentage points lower than the rate seen at the end of the first quarter. Outstanding loans for the whole property sector increased 20.4 percent to 35.78 trillion yuan, 0.1 percentage point higher from the end of March.
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