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HK curbs lending to developers as risks soar

Caps for construction finance to be cut to 40% of site value and 80% of construction cost from June 1

Hong Kong

THE Hong Kong Monetary Authority (HKMA) has tightened limits on bank loans to property developers, as it seeks to contain risks in the city's booming real-estate market.

From June 1, the caps for construction finance will be cut to 40 per cent of site value and 80 per...

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