China's state banks tighten mortgage lending

04/7/2010 | China Daily (Beijing)

Implementing the Chinese government's instructions to curb property speculation, major state-run banks are tightening restrictions on mortgage lending, according to reports from banking regulators. A mortgage-rate discount of 30% was decreased to 15% to 20%, according to the reports. The China Banking Regulatory Commission told banks not to loan to property developers that hoard land.

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China Daily (Beijing)

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