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Real Estate Briefing - Categorized | Developers, Finance, Market Moves more

China banks halt new credit to developers this year

Posted on 15 November 2010

From Reuters: China’s four biggest state banks have used up their full-year credit quotas for property developers and will stop extending new loans to them for the rest of the year, an official newspaper reported on Sunday.
China Real Estate Business, run under the Ministry of Housing and Urban-rural Development, said the four banks had halted approval of new loans since the end of October. It quoted several unnamed executives from the lenders……………………………………….Full Article: Source


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