phantom_opera
25-04-13, 10:23
SHANGHAI - China's outstanding real estate loans in the first quarter rose 16.4 per cent from the same period a year ago, even as overall industrial lending slowed, data from the central bank showed.
Banks in China had lent 13 trillion yuan (US$2 trillion) in outstanding loans to the property sector by end March, up 16.4 per cent from a year earlier, according to data posted on the People's Bank of China (PBOC) website on Wednesday.
China's new home prices rose in March from a year earlier, a third consecutive month of rises, as home buyers rushed to finalise deals to avoid a new capital gains tax, which is expected to help slow increases in coming months as the government looks to crack down on speculation.
China's central government said on March 1 that it planned to introduce a 20 per cent capital gains tax and higher down-payments and mortgage rates for second-time home buyers in cities where prices were deemed to be rising too fast.
Banks in China had lent 13 trillion yuan (US$2 trillion) in outstanding loans to the property sector by end March, up 16.4 per cent from a year earlier, according to data posted on the People's Bank of China (PBOC) website on Wednesday.
China's new home prices rose in March from a year earlier, a third consecutive month of rises, as home buyers rushed to finalise deals to avoid a new capital gains tax, which is expected to help slow increases in coming months as the government looks to crack down on speculation.
China's central government said on March 1 that it planned to introduce a 20 per cent capital gains tax and higher down-payments and mortgage rates for second-time home buyers in cities where prices were deemed to be rising too fast.