Bank loans to local developers in Shanghai recorded their first month-on-month decline for 2017 in October, after a slump in home sales and a bleak outlook curbed the appetite for new construction.
Loans to developers declined by 3.6 billion yuan (US$542 million) in October compared with September, when loans increased by 11.7 billion yuan, according to the central bank’s Shanghai head office. Growth in mortgages also slowed, as individuals secured 6 billion yuan more from banks compared…
Source : South China Morning Post
Read more…2017’s first decline in bank loans for property development after state controls chill Shanghai market















