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Property loan growth rate continues to fall

(Guangming Daily)

16:04, October 31, 2011

Edited and translated by Liu Yuan, People's Daily Online

Beijing, Oct. 30 (PD Online) --The growth rate of real estate loans kept shrinking in the third quarter, while affordable house lending was on the rise, according to the statistical report on financial loans in the third quarter from the People's Bank of China.

Outstanding house development loans stood at 788.7 billion yuan at the end of September, down 4.8 percent year-on-year. It is 5.3 percent lower than that of the second quarter. Outstanding loans to indemnificatory housing development were 280.8 billion yuan by the end of the third quarter, which increased a total of 115 billion yuan during the first three quarters.

The report showed a stable increase in small business loans. By the end of September, outstanding loans to small enterprises totaled 10.13 trillion yuan, 24.3 percent up year-on-year. The growth rate is higher than that of both large and medium enterprises.

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