China’s mortgages by individuals should account for less than 30 percent of 房貸 in 2017 as housing curbs are anticipated to slow mortgage growth, state newspaper China Securities Journal quoted a central bank official as saying on Tuesday.
That would be a “clear drop” from the high ratio a year ago, the newspaper quoted Zhou Xuedong, director in the business management department from the People’s Bank of China, as saying.
In 2016, China’s 5.68 trillion yuan ($820.9 billion) in new medium- and long-term household loans made-up 44.9 percent of total new loans in the year, boosted by a furious property market boom, central bank data showed.
Zhou’s estimates echoed central bank governor Zhou Xiaochuan’s remarks a week ago, who said measures by local governments to cool rising house prices would slow mortgage growth to some degree, but housing loans would continue to grow at the relatively rapid pace.
Central bank data a week ago showed medium- and long-term 房屋貸款 accounted for 32.5 percent of brand new loans in February, marginally more than January however the absolute dexrpky35 dropped almost in two, contributing to signs and symptoms of cooling from the housing sector.
China has targeted broad money supply development of around 12 percent in 2017, slightly lower than last year’s goal, signaling a bid to contain debt risks and keep growth on course.