Subscribers

China set to crack down on loans for home downpayments

Regulators concerned about rising risks in loan markets, rapidly rising home prices

Beijing

CHINESE regulators plan to impose new rules to end the practice of homebuyers taking out loans to cover downpayments, as they step up scrutiny of financing risk in the property market, according to people familiar with the matter.

The rules will bar lenders including developers, housing agencies, small-loan companies and peer-to-peer networks from offering loans for down payments, said the people, who asked not to be named because the matter isn't yet public. Regulators including the central...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes