BEIJING, Jan. 22 (Xinhua) -- China’s central bank had released the statistical report showing loans to China’s property sector grew at a slower pace, the Xinhua-run China Securities Journal reported on Monday.
By the end of 2017, financial institutions in China had lent 32.2 trillion yuan (5.01 trillion dollars) to the property sector, up 20.9 percent year on year. The growth was 6.1 percentage points lower than the rate seen by the end of previous year.
Outstanding loans for individual purchases witnessed year-on-year growth of 22.2 percent to 21.9 trillion yuan (3.41 trillion dollars) during the same period, retreating 14.5 percentage points from the previous year.
In comparison, small and micro enterprise loans grew rapidly. According to the statistics released by the central bank, outstanding loans for small and micro enterprises amounted to 24.3 trillion yuan (3.78 trillion dollars) by the end of 2017, up 16.4 percent over the same period of last year, 0.4 percentage points higher than that of the previous year.
The growth rate of loans for small and micro enterprises was 3.8 percentage points and 5.8 percentage points higher than that of large and medium-sized enterprises respectively.
Statistics showed that the balance of Renminbi loans to financial institutions in China was 120.1 trillion yuan (18.7 trillion dollars) by the end of 2017, up 12.7 percent over the same period of last year. The growth was 0.8 percentage points lower than the rate seen by the end of previous year. (Edited by Ma Xin, Bao Nuomin, email@example.com)