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China's outstanding property loans by end-June up 13.1% year-on-year

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07/31/2020 | 05:07am EDT
Man walks near a shantytown to be redeveloped, in front of apartment buildings, in Fu county in the south of Yanan

China's outstanding property loans by the end of June rose 13.1% from a year earlier to 47.40 trillion yuan ($6.79 trillion), the People's Bank of China (PBOC) said on Friday.

New property loans made up 24.7% of all new loans issued in the first half, the PBOC said in a statement released on its website.

The central bank said outstanding individual mortgages grew 15.7% in the same period to 32.36 trillion yuan, compared to a 15.9% gain by the end of March.

(Reporting by Yawen Chen and Ryan Woo; Editing by John Stonestreet)

Stocks mentioned in the article
ChangeLast1st jan.
BANK OF CHINA LIMITED -1.65% 2.39 End-of-day quote.-28.23%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.01% 6.8147 Delayed Quote.-2.07%
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