06.05.2011 - China Citic Bank: See severe risk in real estate market
China Citic Bank Corp., the seventh-largest Chinese lender by assets, warned Wednesday of severe risk in China's real estate market this year and said it plans to cut lending to the sector, in a sign banks could start to feel the impact of government efforts to cool the property market. "Citic Bank relatively clearly sees that real estate risk this year is severe," said Shi Yuan, the general manager of the bank's risk management section, on a quarterly teleconference. He noted Chinese Premier Wen Jiabao has repeatedly stressed the importance of continuing with the government's property-tightening measures, such as limiting home purchases and raising down-payment requirements..............................................Full Article: Source
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