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Mortgages surge in Shanghai
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ROBUST home sales in Shanghai drove mortgages to surge last month, the People’s Bank of China said.
Banks in Shanghai lent 17.39 billion yuan (US$2.7 billion) in new yuan mortgages in November, up 13.89 billion yuan from the same month of last year, the PBOC said yesterday.
Data from the Shanghai Statistics Bureau showed home sales in the January-September period jumped 23.6 percent from a year ago.
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