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Central bank: rapid growth in real estate loans in H1
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17:13, August 06, 2009

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In the first half of 2009, Renminbi medium and long-term loans were mainly issued to the infrastructure industry, the leasing and commercial service industry and the real estate industry, the People's Bank of China (PBOC) disclosed in its second-quarter report on the implementation of China's monetary policies which was released on August 5.

According to statistics, in the first half, major financial institutions issued Renminbi medium and long-term loans totaling 1.6 trillion yuan, 424.6 billion yuan and 350.1 billion yuan to the infrastructure industry, leasing and commercial service industry and real estate industry, accounting for 51.6 percent, 13.7 percent and 11.3 percent of total new medium and long-term loans respectively. The infrastructure industry comprises transportation, storage and postal industries, electricity, gas and water production and supply industries, water conservancy and environment and public facilities management industries.

New medium and long-term loans issued to the real estate industry in the first half were 1.5 times that issued to the industry for the whole of 2008.

By People's Daily Online

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