Chinese regulators are pressing banks to step up lending and ease financing for developers as part of efforts to boost the ailing property sector, reports Caixin. At a meeting with China’s most important financial institutions last Friday, regulators brought up three new requirements for banks’ real estate loans to developers and homebuyers, people from several state-owned large banks attending the meeting told Caixin.
The banks were told to keep their real estate loan growth at a level no lower than the banking sector’s average real estate loan growth, loan growth to non-state-owned developers no lower than each bank’s real estate loan growth, and mortgage growth to individuals buying housing from non-state-owned developers no lower than each bank’s mortgage growth, the people said.
The meeting also proposed to revise policies on development loans, commercial property loans and personal mortgage loans.
