Policies hit mortgages in Shanghai
By Louise Ho |
January 14, 2012, Saturday
|
Print Edition
Print Edition
INDIVIDUAL home loans in Shanghai fell sharply last year as the government tightened policies on the real estate market and buyers became more cautious, the Shanghai headquarters of the People's Bank of China said yesterday.
There were 21.8 billion yuan (US$3.45 billion) in new mortgages in the city last year, a drop of 32.4 billion yuan from that of 2010, the central bank's Shanghai office said in a statement.
Banks in Shanghai extended nearly 17 percent less in new loans totaling 365 billion yuan last year.
But in December, new loans totaled 23.4 billion yuan, 20.6 billion yuan more than the same month in 2010.
The outstanding loans to small enterprises had grown 13.4 percent by the end of last year from the year's beginning, the fastest pace compared with lending to medium and large companies, according to the central bank's data.
Of the new loans lent to small enterprises, 85 percent went to the wholesale, retail and manufacturing industries.
Last year, new yuan savings fell by 164 billion yuan from a year earlier to 580.79 billion yuan, the central bank said. But new foreign currency savings rose by US$9.13 billion yuan to US$10.73 billion last year.
There were 21.8 billion yuan (US$3.45 billion) in new mortgages in the city last year, a drop of 32.4 billion yuan from that of 2010, the central bank's Shanghai office said in a statement.
Banks in Shanghai extended nearly 17 percent less in new loans totaling 365 billion yuan last year.
But in December, new loans totaled 23.4 billion yuan, 20.6 billion yuan more than the same month in 2010.
The outstanding loans to small enterprises had grown 13.4 percent by the end of last year from the year's beginning, the fastest pace compared with lending to medium and large companies, according to the central bank's data.
Of the new loans lent to small enterprises, 85 percent went to the wholesale, retail and manufacturing industries.
Last year, new yuan savings fell by 164 billion yuan from a year earlier to 580.79 billion yuan, the central bank said. But new foreign currency savings rose by US$9.13 billion yuan to US$10.73 billion last year.
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