22 March 2019

Housing sector risk rising as banks tighten lending, paper says

The housing sector is facing increased funding pressure as banks, funds and trusts tighten financing to developers amid deteriorating market conditions in some cities and regions, Economic Information Daily reported Tuesday, citing industry sources. China Construction Bank Corp. (00939.HK, 601939.CN), the most active lender to developers, has been tightening the screws since 2012. Meanwhile, an employee at a real estate fund said its investment policy excludes third and fourth-tier cities and it only offers financing to developers that are acceptable to banks, the report said.

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