Reported about 1 year ago
The Central Bank announced that as of May this year, the balance of consumer and construction loans for purchasing residential properties has reached over 10.4335 trillion yuan, with an annual growth rate hitting a new high. On the other hand, the balance of construction loans has experienced a record low annual growth rate of 2.91% since June 2017. The surge in residential property loans indicates a continued hot property market, while cautious developers are concerned about missing the trend due to strict loan approval processes by the central bank and uncertainties about future economic conditions.
Source: YAHOO