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Chinese cities curb housing loans

Posted on 20 February 2013

Several Chinese cities have tightened controls on housing loans, in a move that could herald broader policy tightening in response to a resurgent property market. Cities in the wealthy provinces of Zhejiang, Jiangsu and Guangdong have in recent days increased minimum borrowing requirements, or capped the size of loans available to homebuyers tapping their local housing provident funds.
The new restrictions mark a policy shift from last year, when dozens of cities made housing loans more easily available in an effort to boost the flagging property sector, which is widely seen as the most important motor of Chinese growth…………………………………Full Article: Source


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