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Loan reports denied
Source: Xinhua |
November 16, 2010, Tuesday
|
Print Edition
Print Edition
CHINA'S top four banks yesterday rejected reports that they would stop lending to real estate developers for the remainder of this year.
The press offices of the Industrial and Commercial Bank of China, China Construction Bank, the Bank of China and the Agricultural Bank of China all denied the reports.
A Sunday report by China Real Estate Business, a Beijing-based weekly, said the four banks had suspended credit to developers as of the end of October.
The AgBank and CCB officials said they would approve loan applications by developers before the year ends, if the projects were of high quality.
The press offices of the Industrial and Commercial Bank of China, China Construction Bank, the Bank of China and the Agricultural Bank of China all denied the reports.
A Sunday report by China Real Estate Business, a Beijing-based weekly, said the four banks had suspended credit to developers as of the end of October.
The AgBank and CCB officials said they would approve loan applications by developers before the year ends, if the projects were of high quality.
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