You are here

China clamps down on shadow banking for home downpayments

Total P2P borrowing for home deposits reaches 924 million yuan in January
Thursday, March 17, 2016 - 05:50

Shenzhen has seen the biggest surge in home prices, up 52 per cent in January from a year earlier.


WHEN Fu Songtao found his ideal home in the suburbs of Shanghai, he faced the typical problem of would-be homebuyers: Coming up with enough cash for a downpayment. So Mr Fu turned to an online solution. His property agent offered him a zero-interest loan, funded entirely online by

Market voices on:

Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at

Powered by GET.comGetCom