26.04.2013 - Inside China's economy: ¥710bln lent to property market in Q1
Chinese banks lent ¥710.3 billion to the property development in Q1 2013, ¥466.7 billion more than a year earlier, according to a report released by the central bank. Property loans represented 27% of total lending in Q1 2013. Outstanding loans taken out by the real estate sector, including those issued by foreign banks, amounted to ¥12.98 trillion as of the end of March 2013, up 16.4% from a year earlier, the People's Bank of China said. Total outstanding loans rose 14.9% from a year earlier to ¥65.76 trillion as of the end of March 2013 after ¥2.76 trillion, ¥294.8 billion more from a year earlier, were lent during Q1 2013. Outstanding loans for small and midsized businesses rose to ¥11.78 trillion as of the end of March 2013, up 13.5% from a year earlier...............................................Full Article: Source
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