falling new housing loans add to chinese home builders\ strains
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice
Emiratesvoice, emirates voice
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

Falling new housing loans add to Chinese home builders\' strains

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice Falling new housing loans add to Chinese home builders\' strains

Beijing - Xinhua

New property-related loans continued to shrink in China in the third quarter of this year, adding to realty companies\' capital strains, according to data from the People\'s Bank of China (PBOC). New property-related loans, which include loans to property developers and mortgage loans to home buyers, totaled 992.3 billion yuan (156.78 billion U.S. dollars) between January and September, down 42.8 percent from a year earlier, according to the PBOC, China\'s central bank. Outstanding property-related loans stood at 10.46 trillion yuan at the end of September, up 14.6 percent year-on-year. On a quarterly basis, mortgage loans have kept falling in China this year after the Chinese government introduced a series of measures to rein in soaring inflation and cool down the runaway property market. Loans amounted to 201.1 billion yuan in the third quarter, 281.7 billion yuan in the second quarter and 509.5 billion yuan between January and March, according to the PBOC. Zhang Dawei, a senior researcher with the Centaline Property Agency Limited (Beijing), said real estate developers are facing greater difficulty accessing financing, with limited credit lines and higher borrowing rates from banks, according to the Beijing News newspaper. \"Home sales are falling and inventories building up. Real estate developers, especially those small and medium-sized firms, are under unprecedented pressure,\" Zhang said. More than 2.6 trillion yuan of liquidity has been frozen for banks to make loans after the PBOC raised the benchmark interest rates three times and hiked the required reserve ratio for commercial banks six times this year to mop up excessive liquidity and curb inflation. The monetary and credit-tightening policies will continue to reduce realty-related loans and affect developers\' sales, thus increasing their financing strains, in the coming six or 12 months, the Standard & Poor\'s (S&P) financial services company said in a report this week. S&P said the Chinese central government was not likely to loosen its policies in these areas in the near future and therefore developers\' exposure to financing problems will heighten.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

falling new housing loans add to chinese home builders\ strains falling new housing loans add to chinese home builders\ strains

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

falling new housing loans add to chinese home builders\ strains falling new housing loans add to chinese home builders\ strains

 



GMT 11:03 2018 Tuesday ,23 January

No end to eyesores at Taj Mahal

GMT 10:18 2018 Thursday ,30 August

Iran incapable of closing Hormuz, Bab Al Mandeb

GMT 10:31 2014 Tuesday ,23 December

Mirages of failure: Lebanon cannot wait

GMT 04:53 2016 Monday ,16 May

English Premier League results

GMT 05:06 2024 Tuesday ,06 February

New hunt for flight MH370 gets under way

GMT 06:15 2018 Tuesday ,23 January

Volkswagen clinches record sales

GMT 13:13 2016 Wednesday ,14 December

Unarmed old man killed by police in California

GMT 15:00 2017 Wednesday ,08 March

1 killed, 2 missing due to Avalanche in French Alps

GMT 12:07 2017 Saturday ,25 February

Renault’s R.S.17 features Infiniti co-built ERS

GMT 12:52 2017 Saturday ,04 November

Belgium 'to study' Spain's EU warrant for Catalan leader

GMT 08:40 2017 Wednesday ,01 November

Miss Morocco launch her first charity program

GMT 16:26 2016 Friday ,04 November

All Black brothers in arms ready for rare double

GMT 08:21 2017 Saturday ,30 September

Al Sayed underlines economic improvement

GMT 10:27 2017 Wednesday ,13 December

Strikes kill 12 in rebel-run Yemen prison camp

GMT 10:52 2017 Saturday ,14 October

NGOs slam UN aviation agency plan
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice