China's lending to property industry slow down
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China Daily, July 27, 2011
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China's new lending to the real estate industry totaled 791.2 billion yuan ($122.32 billion) in the first half of 2011, the Securities Time reported Wednesday, citing data from the People's Bank of China (PBOC).
PBOC data shows the new added loan growth during the past half year was 598.5 billion yuan less than the growth volume in same period of last year. The remaining loan sum as of the end of the second quarter increased 16.9 percent year-on-year, 4.4 percentage points lower than the end of the first quarter.
The new lending to indemnity housing project amounted to 90.8 billion yuan in the first half, up 54.8 percent from the beginning of the year and its growth rate was much quicker than commercial real estate, the report said.
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