The Ministry of Housing and.............>

CHINA PRESS: The Ministry of Housing and Urban-Rural Development, the People's

Bank of China and the China Banking Regulatory Commission issued a new

regulatory document at the end of September, without knowledge of the public,

requiring banks and local-level regulators to strictly regulate illegal credit

to the property sector, Caixin reported on Friday. The action came as the

Chinese government continues to tighten controls on the sector as the leverage

ratio in the sector grows. Caixin reported that various sources of credit have

secretly flowed to the property sector, catching the attention of regulators.

The three government bodies have clamped down on illegal loans to home

purchasers, especially high-yield loans from some property developers and

financial technology companies that do not require collateral, the report said.

(Caixin)