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
China banking regulator to stick to rules on mortgage for second home
+ -
08:13, July 24, 2009

 Related News
 China issues rules on anti-monopoly review threshold in financial mergers
 China banking regulator urges to be wary on financial risks
 China banking regulator tightens regulation on wealth management investment
 China relaxes rules on foreign private equity investment for first time
 Hong Kong Mortgage Corporation net profits fall 18% in 2008
 Comment  Tell A Friend
 Print Format  Save Article
China's banking regulator said Thursday that rules on mortgage for second-home buyers were not changed and it would "unswervingly" maintain it's current rules.

Liao Min, spokesman of the China Banking Regulatory Commission (CBRC), made the remark in response to recent domestic media reports that the CBRC would tighten such rules on worries that soaring bank loans would create a bubble in the country's property market.

Down payment on second homes is currently set at no less than 40 percent of the price.

Chinese lenders extended a record 7.37 trillion yuan (1.08 trillion U.S. dollars) of new loans in the first half of this year, exceeding the whole-year target of five trillion yuan, after the government eased lending restrictions in November to boost the world's third largest economy.

Liao said the rules on mortgage for second home are in line with the situation of the property market in China and are conducive to preventing speculative purchases.

He noted that the CBRC would be cautious about credit risks in the property market and ordered lenders to stick to rules and step up scrutiny over approvals.


  Your Message:   Most Commented:
Unveiled Rebiya Kadeer: a Uighur Dalai Lama
80 pct of netizens agree China should punish Facebook
Chinese netizens call for punishing Turkey
LA police: Michael Jackson death may have been 'homicide'
Public angered by Turkish PM's 'genocide' accusation

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