September 29, 2017 / 8:48 AM / a year ago

China says consumer loans cannot be used to "fuel property bubble"

BEIJING, Sept 29 (Reuters) - China’s banking regulator said on Friday that consumer loans cannot be used to fuel property bubbles.

Local offices of the China Banking Regulatory Commission (CBRC) and China’s central bank recently launched probes into consumer loans being used for home purchases in some regions, Xiao Yuanqi, head of prudential regulation bureau at the CBRC, told reporters at a media briefing.

Reporting by Shu Zhang and Vincent Lee; Editing by Kim Coghill

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