China Construction Bank (CCB) has decided to invest more in housing loans to support China's ongoing housing reform, CCB announced on January 26.

The bank has so far provided 244 billion yuan in loans for real estate projects, 20.19 percent of the total amount of its loans, up from 17.46 percent in 1998.

Specializing in long- and medium-term credit business, the CCB began its real estate business more than ten years ago.

Along with advancing China's housing reform, the CCB has extended its business sphere to personal credit and housing consumer loans.

The CCB extended a total of 58.35 billion yuan in housing loans to support the sales of 60.39 million square meters of housing last year. With the funding, about 710,000 families were able to buy their own houses.

By the end of 1999, the CCB had extended 127.86 billion yuan in personal housing loans, 96.67 percent of the bank's total personal loans.

The CCB has also extended the term limit of housing loans, lowered the down payment amount, and broadened eligibility requirements.