Scrutiny on loans
Source: Xinhua |
July 28, 2011, Thursday
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Print Edition
Print Edition
CHINA'S banking regulator yesterday said it will step up monitoring of loans to local government financing platforms and the property market in the second half of this year.
Banks should not give loans to new platforms and new projects that are not in accordance with needs, the China Banking Regulatory Commission said in a statement on its website yesterday.
The National Audit Office estimated last month that local governments had borrowed 10.7 trillion yuan (US$1.66 trillion) by the end of last year.
The CSRC also said it will continue its monitoring of property lending and keep alert of housing market risks in second and third-tier cities and commercial properties.
Banks should not give loans to new platforms and new projects that are not in accordance with needs, the China Banking Regulatory Commission said in a statement on its website yesterday.
The National Audit Office estimated last month that local governments had borrowed 10.7 trillion yuan (US$1.66 trillion) by the end of last year.
The CSRC also said it will continue its monitoring of property lending and keep alert of housing market risks in second and third-tier cities and commercial properties.
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