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” from the high ratio a year ago, the newspaper quoted Zhou Xuedong, director from the business management department inside 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 the year, boosted by a furious property market boom, central bank data showed.
Zhou’s estimates echoed central bank governor Zhou Xiaochuan’s remarks a week ago, who said measures by local governments to cool rising house prices would slow mortgage growth for some degree, but housing loans would continue to grow at a relatively rapid pace.
Central bank data the other day showed medium- and long-term 房屋貸款 taken into account 32.5 percent of the latest loans in February, marginally more than January nevertheless the absolute dexrpky35 dropped almost in half, contributing to signs of cooling from the housing sector.
China has targeted broad money supply growth of around 12 percent in 2017, slightly less than last year’s goal, signaling a bid to contain debt risks whilst keeping growth on track.