April 20, 2018 / 8:20 AM / 2 months ago

China's banks extend $302 billion in new property loans in Q1

BEIJING, April 20 (Reuters) - China’s central bank said on Friday that new property loans totalled 1.9 trillion yuan ($302 billion) in the first quarter of this year.

Outstanding property loans rose 20.3 percent by end-March from a year earlier to 34.1 trillion yuan.

Outstanding individual mortgage loans rose 20 percent by end of March to 22.86 trillion yuan.

New individual mortgage loans stood at 99.49 million yuan in the first quarter. ($1 = 6.2879 Chinese yuan renminbi) ($1 = 6.2894 Chinese yuan renminbi) (Reporting by Beijing Monitoring Desk; Writing by Yawen Chen; Editing by Kim Coghill)

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