China’s banks defy Beijing by pumping loans into property, despite economic slowdown

//China’s banks defy Beijing by pumping loans into property, despite economic slowdown

China’s banks defy Beijing by pumping loans into property, despite economic slowdown

Despite Beijing’s push for state-owned banks to lend more to private companies, half of new loans issued by China’s big six banks last year went to individual property buyers.Data retrieved through a South China Morning Post analysis of the banks’ reported annual results underscores the challenges faced by Beijing in guiding more money into the real economy, amid mounting worries about higher household debt and a new housing bubble.It also illustrates the problems facing China’s private sector…

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By | 2019-04-05T13:15:05+00:00 April 5th, 2019|Business|Comments Off on China’s banks defy Beijing by pumping loans into property, despite economic slowdown