(3 August 2012 – China) China has reiterated its promise to boost bank loans to the more productive sectors in the economy.The China Banking Regulatory Commission (CBRC) said it will seek to more effectively support stable economic growth and pledged to boost lending to small businesses and affordable housing.
It plans to decisively enforce the government’s property curbs for the rest of the year and enhance risk management of the real estate lending.
CBRC said active progress was achieved in preventing and containing risks in real estate loans in the first half because of strict lending curbs to heavily indebted developers.
China’s two-year campaign to curb the property market has seen it raise down payments and mortgage requirements; impose property taxes for the first time in Shanghai and Beijing; increase the construction of low-cost social housing and impose home purchase restrictions in about 40 cities.