China Toughens Lending Rules

The China Banking Regulatory Commission has told mainland banks to reassess their lending and submit complete reports on the quality of their loan books by June 30, reports The Standard.

 

The newspaper says banks are being urged to be prudent in lending to real estate developers and to lower loan-to- value ratios when lending to customers who are buying land.

 

The industry watchdog will send inspectors to banks in the next quarter to check on any illegal loans, notes the newspaper.

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