Text Version
RSS Feeds
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  -Text Version
  -RSS Feeds
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
Shanghai records 29 percent growth in home loans
+ -
09:40, August 12, 2007

 Comment  Tell A Friend
 Print Format  Save Article
Banks in Shanghai, an economic engine in east China, issued 5.87 billion yuan (775 million U.S. dollars) in loans for home buyers in July, a growth of 1.32 billion yuan, or 29 percent, from a month earlier, sources with the local branch of the central bank said on Saturday.

The monthly growth was equal to combined growth in entire second quarter, including 2.01 billion yuan for new homes and 3.86 billion yuan for second-hand housing, the sources added.

The sharp rise in credit extension was owed to mounting demand for homes for buyers' own use. The sources said purchases for speculation accounted for a small proportion of the home loans.

According to the Shanghai Branch of the People's Bank of China, the banks granted 3.92 billion yuan in government-subsidized home loans in July, more than five times the monthly average for the first half of this year.

Source: Xinhua

  Your Message:   Most Commented:
Respond "Nanking" with humanity, respect, tears & applause: Interview
Week's special: Summer peak transportation of rails
NATO, caught in "transformation"
Roadside bomb blast kills 26 people in SW Pakistan

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved