Real estate bad loan rate low in city
18/7/2003 16:34
Only 2.99 percent of the real estate loans extended by local
commercial banks were bad debts by the end of June this year, with the
proportion reaching only 0.25 percent for individual housing mortgage loans,
according to the People's Bank of China's Shanghai branch.
According to
statistics, local Chinese banks have boasted real estate loan balances of
242.727 billion yuan (US$29 billion) to date, an increase of 45.617 billion yuan
from the beginning of this year and 54.87 percent from a year before.
Real
estate loans have become the main credit loans extended by local commercial
banks, said an industry analyst.
The individual housing mortgage loan
balances have amounted to 134.827 billion yuan to date, accounting for 55.55
percent of the total real estate bank loans, the statistics
indicated.
Wendy Zhang/ Shanghai Daily news
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