News Column

Shanghai July Newly-added Individual Housing Loan Down

August 15, 2014

SHANGHAI, August 15, SinoCast -- Domestic and foreign currency loan outstanding totaled CNY 4.7 trillion in Shanghai by the end of July, growing 9% over a year earlier, down 0.3 percentage points over the growth a month earlier, according to the Shanghai headquarters of the central bank.

Newly-added loans in July hit CNY 8.94 billion, CNY 11.15 billion lower than the same period of a year earlier.

By the end of July, domestic and foreign currency deposit outstanding totaled CNY 7.24 trillion, growing 8.8% over a year earlier, down 1.5 percentage points over the growth a month earlier.

Hit by depressed housing market, increasing individual housing loan and other factors, in July, newly-added individual housing loan hit CNY 3.4 billion, falling CNY 1.57 billion over a month earlier and CNY 4.8 billion over a year earlier.

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Source: Sinocast Banking & Credit Beat (China)

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