China Home Recovery Picks Up With Loan Growth at Record: ChartBloomberg News
Chinese homebuyers borrowed more than ever as 2016 got under way, aiding a housing recovery. Medium- and long-term bank loans to households, mostly residential mortgage loans, surged 478.3 billion yuan ($73.5 billion) in January, according to the latest data from the People’s Bank of China. In a bid to spur demand in smaller cities and reduce a surplus of homes, the government in January cut the minimum required mortgage down payment in some cities to the lowest level ever.
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