China’s mortgages by individuals should account for less than 30 percent of 房貸 in 2017 as housing curbs are required to slow mortgage growth, state newspaper China Securities Journal quoted a central bank official as saying on Tuesday.
That might be a “clear drop” from the high ratio a year ago, the newspaper quoted Zhou Xuedong, director of the business management department within the People’s Bank of China, as saying.
In 2016, China’s 5.68 trillion yuan ($820.9 billion) in new medium- and long-term household loans made up 44.9 percent of total new loans around, boosted with a furious property market boom, central bank data showed.
Zhou’s estimates echoed central bank governor Zhou Xiaochuan’s remarks last week, who said measures by local governments to cool rising house prices would slow mortgage growth to many degree, but housing loans would keep growing in a relatively rapid pace.
Central bank data a couple weeks ago showed medium- and long-term 房屋貸款 accounted for 32.5 percent of the latest loans in February, marginally higher than January but the absolute dexrpky35 dropped almost in half, increasing warning signs of cooling inside the housing sector.
China has targeted broad money supply growth and development of around 12 percent in 2017, slightly below last year’s goal, signaling a bid to contain debt risks while keeping growth on the right track.