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Rental Housing Development to Surge as China Removes Lending Restrictions: Journal

CHINA PRESS
MNI (Singapore)

China’s banking regulators on Tuesday eased restrictions on rental housing development, a move set to spur more developers applying for loans, the China Securities Journal reported. In a directive published yesterday, the PBOC and the banking commission excluded guaranteed rental property projects from its centralized management system, essentially encouraging banks to freely lend to developers of these projects without quota restrictions. At the end of November, loans to rental housing development rose five times faster than the average rate of growth of all lending, the newspaper said.

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