China’s mortgages by individuals should account cheaper than 30 percent of 房貸 in 2017 as housing curbs are expected to slow mortgage growth, state newspaper China Securities Journal quoted a central bank official as saying on Tuesday.
That could be a “clear drop” in the high ratio this past year, 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 composed 44.9 percent of total new loans during, boosted with 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 keep growing with a relatively rapid pace.
Central bank data the other day showed medium- and long term 房屋貸款 made up 32.5 percent newest loans in February, marginally beyond January however the absolute dexrpky35 dropped almost by 50 %, adding to indications of cooling from the housing sector.
China has targeted broad money supply growth and development of around 12 percent in 2017, slightly less than last year’s goal, signaling a bid to contain debt risks and keep growth on course.