Reported 11 months ago
The latest data released by the Central Bank on May 25 shows a vibrant property market, with the five major banks adding over a trillion yuan in new property mortgage balances in May. This surge led to a historical high in the total property mortgage balance, with an increase of 1242.99 billion yuan, reaching 10.435 trillion yuan. Officials attribute the market's vitality to positive domestic economic conditions, strong performance of the stock market, and the impact of the New Qing An policy introduced in August last year. While there is a significant increase in property mortgage balances, the increase in construction loans remains conservative, reflecting uncertainties in the market. The new controls introduced by the Central Bank, such as raising deposit reserve requirements, may exert some pressure on the property market.
Source: YAHOO