 |
| Xinhua File Photo |
BEIJING, Jan. 23 (Xinhua) -- Loans to the real estate sector rose rapidly in 2014, especially lending for affordable housing developments, the central bank said Friday.
Financial institutions had 5.63 trillion yuan (926 billion U.S. dollars)in outstanding loans to the real estate sector as of the end 2014, up 22.6 percent, the People's Bank of China said in a report.
Outstanding loans for housing development hit 4.28 trillion yuan, up 21.7 percent, while those for land development grew 25.7 percent to reach 1.35 trillion yuan.
Loans for affordable housing programs totaled 1.14 trillion yuan, an increase of 57.2 percent.
Loans made to individual house purchasers remained relatively flat at11.52 trillion yuan.
Related:
Li reassures investors of China's property market
DAVOS, Switzerland, Jan. 21 (Xinhua) -- Chinese Premier Li Keqiang on Wednesday ruled out the possibility of a systematic financial risk in China, saying the recent fluctuations in its real estate market were normal.
Li said so when meeting with representatives of the International Business Council of the ongoing World Economic Forum (WEF) in the Swiss mountain resort of Davos. Full story
China Focus: Developer default not to stop property market pickup
BEIJING, Jan. 7 (Xinhua) -- Kaisa Group, once a leading developer in Shenzhen, is now mired in a massive debt default and strenuously fighting doubts about its prospects, causing jitters about the overall health of China's housing sector.
The company's plight is rooted in its failure to repay a loan from HSBC due on Dec. 31, 2014 totaling 400 million HK dollars (51.6 million U.S. dollars), triggered by the resignation of it board chairman Guo Yingcheng in early December. Full story
|
