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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