July 31, 2020 / 8:49 AM / 9 days ago

China's outstanding property loans by end-June up 13.1% year-on-year

FILE PHOTO: A man walks near a shantytown to be redeveloped, in front of apartment buildings, in Fu county in the south of Yanan, Shaanxi province, China January 2, 2019. REUTERS/Yawen Chen

BEIJING (Reuters) - China’s outstanding property loans by the end of June rose 13.1% from a year earlier to 47.40 trillion yuan ($6.79 trillion), the People’s Bank of China (PBOC) said on Friday.

New property loans made up 24.7% of all new loans issued in the first half, the PBOC said in a statement released on its website.

The central bank said outstanding individual mortgages grew 15.7% in the same period to 32.36 trillion yuan, compared to a 15.9% gain by the end of March.

(This story corrects to say outstanding property loans by “end-June” instead of “six months to June”, in headline and lede)

Reporting by Yawen Chen and Ryan Woo; Editing by John Stonestreet

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below