China’s mortgages by individuals should account cheaper than 30 percent of 房貸 in 2017 as housing curbs are required to slow mortgage growth, state newspaper China Securities Journal quoted a central bank official as saying on Tuesday.
That would be a “clear drop” in the high ratio last year, the newspaper quoted Zhou Xuedong, director of your business management department within the People’s Bank of China, as saying.
In 2016, China’s 5.68 trillion yuan ($820.9 billion) in new medium- and long term household loans made-up 44.9 percent of total new loans in, boosted with a furious property market boom, central bank data showed.
Zhou’s estimates echoed central bank governor Zhou Xiaochuan’s remarks a couple weeks ago, who said measures by local governments to cool rising house prices would slow mortgage growth to many degree, but housing loans would keep growing at the relatively rapid pace.
Central bank data a week ago showed medium- and long-term 房屋貸款 accounted for 32.5 percent of the latest loans in February, marginally more than January nevertheless the absolute dexrpky35 dropped almost by 50 %, increasing signs of cooling in the housing sector.
China has targeted broad money supply growth and development of around 12 percent in 2017, slightly under last year’s goal, signaling a bid to contain debt risks and keep growth on target.