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Chinese banks resume 3rd-home loans in big cities

07-12-2010 16:38 BJT

SHANGHAI - Banks in China's first-tier cities, including Shanghai and Shenzhen, have all resumed lending to third homes, the Securities Times reported on Monday.

Banks in cities near Shanghai, such as Nanjing and Hangzhou, have also resumed such mortgage loans, the newspaper said.

China in April banned loans for third homes amid stepped-up efforts against property investment and speculation, triggering a slump in property stocks and China's stock market.

The Securities Times reported on Monday that banks in Beijing and Shenzhen have started lending to third-home buyers with a down payment ratio of at least 50 percent.

Editor:Xiong Qu |Source: China Daily

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