China Construction Bank Strengthens Housing Loan Management

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Last updated at: (Beijing Time) Saturday, May 24, 2003

China Construction Bank Strengthens Housing Loan Management

China Construction Bank (CCB) has adopted a series of policy measures to readjust and rationalize housing loan structure, step up housing loan management and prevent related credit risks.

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China Construction Bank (CCB) has adopted a series of policy measures to readjust and rationalize housing loan structure, step up housing loan management and prevent related credit risks.

A CCB spokesman said on Friday that the measures aimed to give more support to ordinary commercial housing and economy housing, strictly control loans for luxury residential housing, hotels, office and business building, and ban any loan for illegal real estate development projects.

Statistics show that by the end of April, the CCB had granted commercial loans of 404.3 billion yuan (about 48.89 billion US dollars) and accumulation fund loans of 129.3 billion yuan to 5.71million individual home buyers.

By the end of April, outstanding housing loans had reached 333.3 billion yuan, the highest of China's commercial banks.

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