China Construction Bank (CCB) announced it will tighten mortgage approval standards at its Guangdong branches. CCB said it will revoke mortgage approval rights from Guangdong branches with delinquency rates in excess of 0.3% of total home loans. CCB's current delinquency rate on new mortgage loans in Guangdong province is 0.55%. Analysts said that CCB's proactive move to avoid accumulating bad debt was rare among state banks.
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