April 21, 2017 / 8:23 AM / 4 months ago

China new property loans up $247 bln in Q1 2017 -cenbank

BEIJING, April 21 (Reuters) - China's property loans increased by 1.7 trillion yuan ($247 billion) in the first quarter of 2017, accounting for 40.4 percent of all new loans made in the quarter, the People's bank of China (PBOC) said on Friday.

Outstanding individual mortgages rose 35.7 percent from a year earlier by the end of the first quarter, PBOC said in a report posted on its website.

Outstanding property loans rose 26.1 percent at the end of the first quarter from a year ago, it said.

$1 = 6.8803 Chinese yuan Reporting by Yawen Chen and Nicholas Heath; Editing by Jacqueline Wong

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