China's property loans rise to a 2-year high on policy support
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China's outstanding property loans stood at 53.33 trillion yuan (US$7.43 trillion) at the end of June, up 0.4 per cent from a year earlier, the People's Bank of China said in a statement.
Growth accelerated from 0.04 per cent in March, reaching the highest level since June 2023, according to central bank data.
But growth remained modest, dwarfed by the double-digit increases seen before 2021.
Outstanding individual mortgage loans came in at 37.74 trillion yuan, down 0.1 per cent from a year earlier, while outstanding property development loans rose 0.3 per cent to 13.81 trillion yuan, the central bank said.
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Beijing has rolled out a number of rounds of policy measures in recent years to support the property sector, including allowing debt-laden developers to sell housing inventories and undeveloped land to local governments.
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