Date
26 September 2017

CBRC to keep close tabs on property mortgage risks, paper says

China’s banking watchdog will make managing property mortgage risks a priority this year, Economic Information Daily reported Tuesday, citing China Banking Regulatory Commission (CBRC) chairman Shang Fulin {尚福林}. The comments were backed up by Liao Min, director of the commission’s Shanghai bureau, and Yu Xuejun, head of the CBRC’s Jiangsu bureau. According to the People’s Bank of China, the value of outstanding property mortgage loans rose by 2.34 trillion yuan (US$381.135 billion) last year, 998.7 billion yuan more than the growth in 2012 and making up 28.1 percent of new loan growth in 2013, the report said.

– Contact HKEJ at [email protected]

EL/AC/SK

 

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