Houston Community News >>
11/15/2010--
China's
major banks have stopped lending to real estate developers as the
government tries to cool an investment boom and surging home prices, a
state newspaper said on Monday.
A government news agency said the country's top four banks denied the report.
The top four state-owned lenders suspended credit to developers at the end of October after exhausting the industry's annual loan quota, China Real Estate Business said, citing unnamed bank employees. It said the government limit for total real estate lending next year might be reduced by up to 20 per cent.
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A government news agency said the country's top four banks denied the report.
The top four state-owned lenders suspended credit to developers at the end of October after exhausting the industry's annual loan quota, China Real Estate Business said, citing unnamed bank employees. It said the government limit for total real estate lending next year might be reduced by up to 20 per cent.
Read More
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