Industries > Real Estate

China's property loan growth slows further

Xinhua News,BEIJING
2020-08-03 10:37

Already collect

BEIJING, Aug. 1 (Xinhua) -- Loans to China's property sector increased at a slower pace in the first half of this year (H1) as the country maintains strict rules for home purchases, central bank data showed.

China's outstanding property loans were up 13.1 percent from a year earlier at 47.4 trillion yuan (about 6.79 trillion U.S. dollars) as of the end of June, according to a report from the People's Bank of China.

The rate was below the 13.2-percent growth in total outstanding loans by H1 and the 13.9-percent growth in outstanding property loans by the end of the first quarter, the central bank said.

Outstanding individual mortgage lending grew 15.7 percent year on year to 32.36 trillion yuan by the end of the second quarter, compared with the 15.9-percent growth in the first quarter.

China's policymakers have vowed to ensure the stable and healthy development of the property market, repeatedly emphasizing that homes are for living in, not for speculative investment.
Add comments

Latest comments

Latest News
News Most Viewed