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The Agricultural Bank of China has suspended all lending to property developers, for the rest of the month. The bank will resume lending to the sector in September.
The lender said it would be cautious in lending to property developers for the rest of the year, and credit will be for high-quality clients only. China has waged a campaign to cool its real estate market since April. Agbank's move also shows how banks are bumping up against credit quotas imposed by regulators, to control lending activity and money growth.
- Shanghai banks halt loans for 3rd homes 2010-08-06