No easing of restriction on trust-financed housing projects

16:42, February 24, 2011      

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Officials from China Banking Regulatory Commission denied a media report that the restrictions on trust-based loans to real estate developers have been relaxed.

According to the commission, no changes have been made to rules governing trust-funded loans to property businesses since 2005. It will continue following the real estate market closely and implement the national macro-control policy on the property market, which is focused on cooling down soaring housing prices.

The current policy framework sets thresholds on capital adequacy, qualifications and registration of trust companies eligible to provide financing services to development projects. It also defines prohibitory business conduct in this financial service for real estate developers.

There was also a rumor on Wednesday that banks may stop all loans for property development projects. However, major commercial banks, including the four biggest state-owned banks, have denied that.

By Li Jia, People’s Daily Online
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