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China Construction Bank Boosts Housing Loans
China Construction Bank (CCB), a leading state-owned commercial bank in China, has outlined plans to further boost its housing loans business.
A bank spokesman said in Beijing Monday that the bank will implement a brand strategy, which will use its customers' resources in private housing loans in developing new housing-related banking services.
Its goal is to raise its private housing loans this year by at least 40 billion yuan over the level of 1999.
In the market of policy-related house banking services, mainly the market of public housing funds, the bank will strive to keep a market share of over 70 percent, the spokesman said.
The CCB will give greater support to housing loans for scientific, educational, cultural and healthcare institutions, college student flats and big enterprises, he added.
According to figures provided by the bank, the CCB had granted 155 billion yuan in private housing loans to 2.67 million urban and rural residents by the end of last April.
At the end of last April, the bank held a balance of 106.3 billion yuan in private housing loans.
It recorded a balance of policy-related housing deposits of 186. 7 billion yuan and loans totaling 82.3 billion yuan at the end of last April, an increase of 32.3 billion yuan and 10.6 billion yuan over the same period of last year, respectively.
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