Banks not tightening property lending: Xinhua

China’s biggest banks have not tightened lending to property developers, Reuters reported, citing state-run Xinhua News Agency. Industrial Bank (601166.SHA) earlier this week said it was suspending a form of off-balance-sheet financing to certain property developers, prompting fears that more banks would tighten lending to the property sector. China’s top five banks all said there was no policy change in their real estate-related lending business, Xinhua reported. Several mid-sized lenders made similar statements. The slowest real estate price growth in 14 months sent mainland shares trading downward earlier this week.