Home 禄 Business 禄 Real Estate
Banks to be probed for its property businesses
Print Edition
China will launch a targeted inspection on banks鈥 property-related businesses in 32 cities including Beijing, Shanghai and Shenzhen, to see whether their credit policies are in line with government regulations.
The China Banking and Insurance Regulatory Commission has issued a circular specifying major task for the inspection, including examining how bank鈥檚 real-estate credit policies were implemented, the China Securities Journal reported.
The regulator will also scrutinize banks鈥 financing services for property and land development to prevent loans to ineligible companies or projects, as well as the implementation of differentiated credit policies for individual housing.
The move came as the People鈥檚 Bank of China, the country鈥檚 central bank, earlier this month called for banks to keep their loans in the property sector at a reasonable level while increasing credit support for key areas and weak links.
Banks should adhere to the principle of 鈥渉ouses are for living in, not for speculation,鈥 adjust and optimize their credit structures and implement long-term mechanisms to maintain the sound development of the real-estate market, the central bank stressed.
Earlier data showed China鈥檚 loans to the real-estate sector grew at a slower pace in the first half of this year as government purchase restrictions remain in place in major cities.
At the end of the second quarter, the outstanding loans to the property sector stood at 11.04 trillion yuan (US$1.57 trillion), up 14.6 percent year on year, according to data from the central bank.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
