Property lending surges in Q3 on land development
By Wang Xiaotian | China Daily | Updated: 2012-10-24 08:07
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The headquarters of the People's Bank of China in Beijing. Data released by the PBOC showed more loans were extended to the real estate sector from July to September than during the second quarter of the year. Vincent Thian / AP |
Property sector lending by Chinese financial institutions surged in the third quarter, especially for the development of land, despite the economy losing steam for seven consecutive quarters.
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