{"id":132608,"date":"2019-03-18T11:55:00","date_gmt":"2019-03-18T04:55:00","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/china-toughens-rules-for-pawn-shop-lending\/"},"modified":"2022-12-11T02:54:57","modified_gmt":"2022-12-10T19:54:57","slug":"china-toughens-rules-for-pawn-shop-lending","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/china-toughens-rules-for-pawn-shop-lending\/","title":{"rendered":"China toughens rules for pawn shop lending"},"content":{"rendered":"


\nThe central Chinese government is tightening regulations over pawn shops in a bid to gain more oversight of the shadow banking industry and the rise of property-backed loans used for undisclosed purposes, Bloomberg reported.\u00a0 Having taken over jurisdiction of pawn shops from the Ministry of Commerce last year, the China Banking and Insurance Regulatory Commission (CBIRC) is drafting new rules that will, among others, raise the minimum capital requirement for pawn shops from its current level of CNY3 million (USD447,000). The plans are the latest in Beijing\u2019s more than two-year campaign to place the country on solid financial footing and crack down on the USD9-trillion shadow banking industry. More:\u00a0A tale of two tiers in China Chinese pawn shops extended the equivalent of USD43 billion in loans in 2017, often to small businesses. While they come at higher interest rates than those from banks \u2014 Shanghai lending rates typically go for a staggering 24 percent annually \u2014 pawn shop loans do not require small business owners to disclose the purpose of the funds. More than half of loans extended by pawn shops in 2017 were property-backed. Shops\u00a0typically compel pawners to pledge 40 percent of the value of their apartments as collateral. Pawn outlets in recent years have come to accept other collateral such as stocks, luxury watches, jewelry, and automobiles. Chinese pawn shops now number more than 8,500, double the figure in 2010, Bloomberg noted.
\n
\nSource : property-report.com
\nRead more…China toughens rules for pawn shop lending<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The central Chinese government is tightening regulations over pawn shops in a bid to gain...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-132608","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-yuQ","jetpack-related-posts":[{"id":77276,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/countrywide-property-pawn\/","url_meta":{"origin":132608,"position":0},"title":"Countrywide: property pawn","date":"January 18, 2018","format":false,"excerpt":"\r Last year\u2019s decline was led by sales and lettings and there is little reason to think 2018 will be different\r \r Source : ft.com\r Read more...Countrywide: property pawn","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":121664,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/commercial-real-estate-deals-soar-in-hong-kong-as-easy-loans-prompt-buyers-to-snap-up-offices-shops-and-even-car-parking-bays\/","url_meta":{"origin":132608,"position":1},"title":"Commercial real estate deals soar in Hong Kong as easy loans prompt buyers to snap up offices, shops and even car parking bays","date":"August 26, 2021","format":false,"excerpt":"\r Non-residential real estate investments into Hong Kong have soared this year, as mainland Chinese and foreign investors snapped up industrial buildings, shops, serviced apartments and car parking bays in the city.Purchases by foreigners and Chinese investors soared to a two-year high of HK$17.3 billion (US$2.2 billion) in the eight\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":119063,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/creeping-funding-costs-at-above-market-rates-in-the-shadow-banking-world-skew-evergrandes-plan-to-pare-back-debt\/","url_meta":{"origin":132608,"position":2},"title":"Creeping funding costs at above-market rates in the shadow banking world skew Evergrande's plan to pare back debt","date":"October 30, 2020","format":false,"excerpt":"\r China Evergrande Group has taken to seeking loans at above-average interest rates in the shadow banking market, where caution even there over its cash flow hints at an increasingly fraught effort to reduce the property sector\u2019s biggest debt.The developer, which owed 835.5 billion yuan (US$125 billion) at June-end, has\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":116788,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/us-government-invites-bids-on-six-multibillion-dollar-hong-kong-mansions-even-as-white-house-revokes-citys-trade-status\/","url_meta":{"origin":132608,"position":3},"title":"US government invites bids on six multibillion-dollar Hong Kong mansions, even as White House revokes city\u2019s trade status","date":"May 30, 2020","format":false,"excerpt":"\r The United States government is calling for bids on a cluster of residential properties in the world\u2019s most expensive real estate market, even as Hong Kong is turning into the latest pawn in an escalating rivalry between the US and China.A plot of land with six multistorey mansions located\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":57440,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/are-developers-ending-their-affairs-with-chinas-shadow-banking-system\/","url_meta":{"origin":132608,"position":4},"title":"Are developers ending their affairs with China\u2019s shadow banking system?","date":"June 10, 2017","format":false,"excerpt":"\r As they say in China, whatever policies the central government introduces, the lower levels of power will find a means to counter them. Look no further than Beijing\u2019s uphill struggle to cool the country\u2019s surging home prices. While the China Banking Regulatory Commission has ordered banks to tighten lending\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":107728,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/real-estate-developers-slammed-after-china-reportedly-tightens-access-to-bond-market-funding\/","url_meta":{"origin":132608,"position":5},"title":"Real estate developers slammed after China reportedly tightens access to bond market funding","date":"June 3, 2019","format":false,"excerpt":"\r Shares of Chinese real estate developers were under pressure on Monday after reports that regulators plan to restrict access to funding through the bond market, reflecting the latest move to cool a property market that has been heating up since early this year.The bond financing halt, could be a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/132608"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=132608"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/132608\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=132608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=132608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=132608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}