Chinese property loans keep growing

China is seeing an uptick in loans to the property sector as the housing market recovers, the official Xinhua News Agency reported, citing data released from the central bank on Wednesday. By the end of last month, financial institutions in China had lent US$2.31 trillion (RMB14.17 trillion) to the property sector, up 19% year-on-year, 0.9 percentage points faster than the growth at the end of June, said a report from the People’s Bank of China. Housing prices in first tier cities surged nearly 20% in September from a year earlier despite government cooling measures.