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China Said to Tell Banks to Tighten Curbs on Property Loans

Chinese regulators have told banks to tighten lending for real estate on concern credit risks will increase as the impact of government curbs deepens in the next three to five months, a person familiar with the matter said.

The China Banking Regulatory Commission told lenders last month not to extend the maturity of loans to developers, not to grant new credit to help developers repay maturing debt and to set significantly higher standards on loans for commercial properties than residential, the person said, declining to be identified as the discussions were private.