BEIJING Oct 18 China's new housing loans to
individuals rose to 3.63 trillion yuan ($538.69 billion) in the
first nine months, accounting for 35.7 percent of total new loan
issuance in the period, the central bank said on Tuesday.
In September alone, new housing loans to individuals were
475.9 billion yuan ($70.62 billion), or 205.5 billion yuan
($30.50 billion) higher than the same period last year, Ruan
Jianhong, a central bank official said in a news release.
The relatively rapid rise in China's new housing loans is
due to a high level of transactions in first- and second-tier
cities, Ruan said.
($1 = 6.7386 Chinese yuan)
(Reporting by Yawen Chen and Elias Glenn; Editing by Richard