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

EconomyJul 31, 2020 05:15AM ET

(C) Reuters. Man walks near a shantytown to be redeveloped, in front of apartment buildings, in Fu county in the south of Yanan

BEIJING (Reuters) – 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.

(This story corrects to say outstanding property loans by “end-June” instead of “six months to June”, in headline and lede)

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