News Flash

China's home mortgage lending up 48% in '09: central bank

(Xinhua)
Updated: 2010-01-21 01:37

BEIJING: China's yuan-denominated individual home mortgage lending rose 1.4 trillion yuan ($204.98 billion) in 2009, up 47.9 percent from the previous year, said a report issued by the People's Bank of China, the central bank, on Wednesday.

The growth rate was 37.4 percentage points higher than the previous year, said the report on China's investment flow in 2009.

Meanwhile, the yuan-denominated property development lending gained 576.4 billion yuan in 2009, up 30.7 percent year on year, and the growth rate was 20.4 percentage points more than the previous year, the report said.

The total mid-term and long-term loans in foreign and domestic currency expanded 7.1 trillion yuan in 2009, up 43.5 percent from the previous year, and the growth rate was 23.4 percentage points more than the previous year.

The short-term loans in foreign and domestic currency expanded 2.3 trillion yuan, up 758.5 billion yuan from the same period last year.

Industrial mid-term and long-term loans in foreign and domestic currency added 1 trillion yuan among China's major financial institutions, up 26 percent from the previous year.

Infrastructure mid-term and long-term loans in foreign and domestic currency expanded 2.5 trillion yuan, up 43 percent from the same period last year, according to the report.

The central bank said on January 15 that China's new yuan-denominated lending in 2009 hit a record 9.59 trillion yuan ($1.4 trillion), almost double that of the previous year.