Home  Contact Us
  Follow Us On:
 
Search:
Advertising Advertising Free Newsletter Free E-Newsletter
NEWS

Tianjin regulator warns about illegal property sector loans
Published on: 2021-06-04
Share to
User Rating: / 0
PoorBest 

China’s banking regulator has warned the country’s smaller banks against rushing to grow their property sector loans after a cap on lending by big banks to the highly leveraged industry showed some initial success.
 

The China Banking and Insurance Regulatory Commission (CBIRC) will pay close attention to growth in property sector loans, and it will identify and closely monitor banks with a high proportion of such lending in their portfolios, Liu Zhongrui, a deputy director of CBIRC’s statistical information and risk surveillance department, said on Tuesday.
 

The country's top banking and insurance regulator, together with the Ministry of Housing and Urban-Rural Development and the People's Bank of China, took measures to prevent business loans from flowing into the real estate sector by requiring banks to strengthen borrower qualification verification, credit demand verification and the administration of intermediaries.
 

The Tianjin Banking and Insurance Regulatory Bureau also issued a risk alert and complaint hotline for illegal inflow of business loans into the real estate sector, emphasizing that business loans and other credit funds should not be used for house purchase.
 

Borrowers who have used business loans for other purposes will be reported to China's credit reporting system. Their lines of credit will also be lowered and business loans will be recovered.
 

Property lending portfolio of lenders increased by 10.5 percent on a yearly basis by the end of April, with the growth rate hitting an eight-year low.
 

天津:房产中介不得提供房抵经营贷

天津银保监局、人民银行天津分行、天津市住建委昨天联合发布经营用途贷款违规流入房地产领域风险提示和举报投诉热线,强调经营用途贷款等信贷资金不得违规用于购房、结清房贷、偿还其他渠道垫付的房款,房产中介不得提供房抵经营贷等金融产品资源和服务。

Comments (0)Add Comment

Write comment

security code
Write the displayed characters


busy
    Subscription    |     Advertising    |     Contact Us    |
Address: Magnetic Plaza, Building A4, 6th Floor, Binshui Xi Dao.
Nankai District. 300381 TIANJIN. PR CHINA
Tel: +86 22 23917700
E-mail: webmaster@businesstianjin.com
Copyright 2024 BusinessTianjin.com. All rights reserved.