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CCB to Provide Better Mortgage Services in Central Cities
The Construction Bank of China (CCB) will give more rights of approval to its 60 branch banks in China's central cities concerning their respective mortgage businesses, to make better use of the fund.
According to a plan set by the bank in 2001, the bank will provide 60 billion yuan in loans to consumers willing to buy houses, according to a plan set by the bank. The total loans in this respect will reach 200 billion yuan by the end of this year.
To do this, the bank decides to limit the approval rights of mortgage business in the county-level subsidiaries of branch banks in central cities and draw back the rights in other general branch banks.
Besides, the banks will improve the cooperation with the housing agent corporations to provide better financial services.
Statistics show that by the end of 2000, the bank has provided mortgage loans of 179.1 billion yuan, 92.7 billion yuan more than in the beginning of the year.
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