News Column

China property loans rose in 2013

January 27, 2014

The People`s Bank of China said the outstanding yuan dominated lending from foreign and Chinese financial institutions to the property market picked up 19.1% in 2013 to record 14.61 trillion yuan . According to the central bank`s statement, the property sector added 2.34 trillion yuan ( $383.61 billion ) in new lending during last year, which is 998.7 billion yuan more than 2012. The report said loans for individual home mortgages inclined 21% to record 9.8 trillion yuan . The central bank added that new yuan dominated lending came in at 8.89 trillion yuan in 2013, 687.9 billion yuan more than 2012. However, China`s outstanding yuan dominated lending reached 71.9 trillion yuan in 2013, up 14.1% from last year, but the recorded growth is 0.9% less than growth seen in 2012.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Financial Markets

Story Tools