Loans to China's property developers down slightly in Q2

Beijing

BANK lending to China's property developers cooled slightly in the second quarter but remained at high levels, official data showed on Wednesday, underlining the government's efforts to get lenders to support the struggling property market.

Developers took 4.88 trillion yuan (S$1.07 trillion) worth of loans by the end of June, up 20.9 per cent on an annual basis and slower than a 24.1 per cent rise at the end of March, central bank data showed.