Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Credit
Economy

China tightens regulation of business loans collateralized with property

April 23, 2020


Abstract : China's banking regulator has taken measures to check on business loans collateralized with real estate to prevent such loans from flowing into the property market, according to an official with the China Banking and Insurance Regulatory Commission (CBIRC).

BEIJING, April 22 (Xinhua) -- China's banking regulator has taken measures to check on business loans collateralized with real estate to prevent such loans from flowing into the property market, according to an official with the China Banking and Insurance Regulatory Commission (CBIRC).

The banks were asked to monitor the flow of capital and ensure the loans are used in line with the purpose for which the loan was applied and cannot be misappropriated, said Xiao Yuanqi, chief risk officer of the CBIRC.

Property prices in southern Chinese city of Shenzhen have seen fast growth recently, raising concerns that some business relief loans might have flown into the real estate market.

The Shenzhen branch of the People's Bank of China issued a notice on Monday to ask banks in the city to look into business loans collateralized with property and whether there are any violations of regulations.

The Political Bureau of the Communist Party of China Central Committee said in a meeting last week that the country's property policy that "houses are not for speculation" will continue, and the country will promote the healthy developement of the property market. Enditem

Scan the QR code and push it to your mobile phone

Keyword: China loans

Reading:

About routes along 21st Century Maritime Silk Road

China ramps up financial support to accelerate manufacturing recovery amid epidemic

China defines meaning of "new infrastructure" to energize economic development

NW China province sees trade with B&R countries in Q1 stand at RMB3.67 bln

S China Nanning speeds up building of cross-border e-commerce business cluster facing ASEAN

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial