China won't restrict real estate-related loans: banking regulator

11:24, March 05, 2010      

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The problem that new bank loans flow into the stock market and the property market was not severe, and loans related to the real estate industry won't be restricted, said Liu Mingkang, chairman from the China Banking Regulatory Commission (CBRC) yesterday.

"Credit support to land reserve, realty development and individual housing mortgage will continue, and will also be more prudent."

The CBRC has earlier issued a guideline to ensure that bank loans would enter real economy, regulating fixed asset loans, working capital loans, consumer loans and project financing.

Liu believed that these measures are of great significance for regulating the use of credit, ensuring the safety of credit funds and protecting the interests of financial consumers.

According to the regulatory authorities, a survey showed that China's credit misappropriation is not serious. Moreover, the regulators have been always cracking down on loan misappropriation. Recently, some banks related to credit misappropriation in Shenzhen were punished.

By People's Daily Online
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