Jan. 31, 2012 (China Knowledge) - The People's Bank of China
said on Monday that the country's real estate loans had reached RMB 10.73 trillion at the end of last year, reflecting a growth of 13.9% year on year.
The growth rate showed a slowdown from the year 2010 when the country's real estate RMB loans increased 27.4%, due to the Chinese government's tight monetary policy and its effort to cool down the overheated property market.
Last year, the new RMB loans to the real estate sector were RMB 1.26 trillion, RMB 770.4 billion less than in 2010.
At the end of December last year, the country's loans to land development had fallen 7.9% year on year to RMB 768 billion, and its loans to properties development saw a slower growth of 17.1% year on year, reaching RMB 2.72 billion.