China banks lending more to property sector
Higher exposure makes them vulnerable to property market downturn
Hong Kong
CHINA'S top banks are lending more to homebuyers and developers than at any time since at least the global financial crisis, making them vulnerable to a property market downturn as prices overheat and real-estate firms struggle with a growing debt burden.
China's top five banks had mortgages and loans to the sector of 12.4 trillion yuan (S$2.6 trillion) at end-2015, up 11 per cent over the year, and representing 28 per cent of total loans, a Reuters analysis of their balance sheets shows.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
HDB resale prices up 1.8% in Q1; rental market slows down
Singapore’s private home prices up 1.4% in Q1, rents drop by 1.9%: URA
OUE wins tender to lease, develop new ‘zero-energy’ hotel at Changi Airport’s T2
Singapore office rents in central region fall 1.7 per cent in Q1 over Q4: URA
Homebuyers shun new real estate in Vancouver, hurting builders
US pending home sales jump in March to hit highest in the year