By: Yawen Chen
BEIJING: China’s central bank said on Friday that new property loans totalled 1.9 trillion yuan ($302 billion) in the first quarter of this year.
Outstanding property loans rose 20.3 % by end-March from a year earlier to 34.1 trillion yuan.
Outstanding individual mortgage loans rose 20 percent by end of March to 22.86 trillion yuan.
New individual mortgage loans stood at 99.49 million yuan in the first quarter. ($1 = 6.2879 Chinese yuan renminbi) ($1 = 6.2894 Chinese yuan renminbi)
(Reporting by Beijing Monitoring Desk; Editing by Kim Coghill)
Source: Reuters