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China's property loans see slower growth in June

Updated: Jul 14,2021 19:41    Xinhua

BEIJING — China's property loans increased at a slower pace in June, the country's top banking and insurance watchdog said on July 14.

As of the end of June, loans to the property sector expanded by 10.3 percent year-on-year, lower than that of total loans, said Liu Zhongrui, an official of the China Banking and Insurance Regulatory Commission, at a press conference.

This came amid the country's efforts to prevent and control risks in key areas, according to Liu.

Meanwhile, the banking and insurance sectors have been enhancing support for the real economy, said Liu, citing that the year-on-year growth rate of loans for the manufacturing industry has topped 10 percent for 14 consecutive months.

China's policymakers have vowed to ensure the stable and healthy development of the property market, repeatedly emphasizing that "houses are for living in, not for speculation."

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