www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Policy Watch

China to restrain credit growth amid property restrictions

(Xinhua) Updated: 2016-10-09 07:31

China to restrain credit growth amid property restrictions

Prospective buyers attend a real estate trade fair in Chengdu, capital of Sichuan province, on Oct 3, 2016. [Photo/For China Daily]


BEIJING - China will control its credit growth and take active measures to promote the healthy development of the housing market, a central bank statement said Saturday.

Zhou Xiaochuan, governor of the People's Bank of China, was quoted as saying that China's credit expansion has slowed and growth will be controlled in the future along with a steady recovery in the global economy.

He made the remarks while co-chairing the Fourth G20 Finance Ministers and Central Bank Governors Meeting with Chinese Finance Minister Lou Jiwei in Washington Thursday.

Lou Jiwei said China has trailed developed countries in deleveraging following the financial crisis while deploying massive stimulus plans, which have helped tackle the crisis but led to rising debt rates and overcapacity.

As China trims its overcapacity, moderate credit growth could act as a countercylical tool, Zhou said.

The central bank said earlier that it intends to continue its prudent monetary policy and maintain a proper level of liquidity, while using various monetary policy tools flexibly to maintain reasonable growth of monetary credit and social financing.

Zhou also noted that the Chinese government is very concerned about the recent rise in home prices and will take active measures to regulate the market.

His remarks came amid tougher regulations in the housing markets of both first-tier cities such as Beijing and Shenzhen as well as smaller second- and third-tier cities.

Prices in 100 major Chinese cities rose 14.9 percent in the first nine months of 2016, with August and September seeing record month-on-month growth of more than 2 percent, according to the China Index Academy (CIA), a private property research institute.

As of Oct. 6, a total of 19 Chinese cities had rolled out policies in the past week ranging from higher down payments and home purchase restrictions to curb speculative housing purchases.

Markus Rodlauer, deputy director of the International Monetary Fund (IMF)'s Asia Pacific Department, told Xinhua Friday that the rising prices are not sustainable and will fall back with regulators hitting the brakes.

Shrinking profits in the real economy and expectations of yuan devaluation have led to capital flooding the property market, CIA said.

China's new yuan-denominated lending in August more than doubled from a month ago to 948.7 billion yuan (about 145.95 billion U.S. dollars), with mortgages representing 55.7 percent of the 529 billion yuan in household loans, PBOC data showed.

Chang Yong Rhee, Director of IMF's Asia and Pacific Department, advised China to advance structural reform as China's credit grows at twice the speed of the economy, mainly driven by demand from the property market rather than enterprises.

China is making headway in improving its economic structure and efficiency as it enters a "new normal" of medium-to-high-speed growth, Zhou said, adding that new growth momentum is growing as the fundamentals of the economy point to long-term sound performance.

The PBOC has said it will continue reforms to the financial system to encourage efficiency and better serve the real economy in line with the requirements of supply-side structural reform.

China's economy grew 6.7 percent in the second quarter of the year, the lowest quarterly growth rate since the global financial crisis in early 2009, but still within the government's target range of 6.5-7 percent for 2016

The Asian Development Bank has upgraded its forecast for China's 2016 growth from 6.5 percent to 6.6 percent, and to 6.4 percent growth from 6.3 percent for 2017.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 99久久免费午夜国产精品 | 精品久久久久久中文字幕 | 国产一级大片免费看 | 亚洲爱视频 | 色久天堂网 | 美女扒开腿让男人桶 | 国产免费一区二区三区在线观看 | 九九草在线观看 | 91视频天堂| 午夜宅男在线永远免费观看网 | 日韩一级片免费在线观看 | 国产精品三区四区 | 日韩一级片网址 | 亚洲欧美一区二区三区四区 | 国产在线精品二区韩国演艺界 | 日韩黄色在线 | www.亚洲免费 | 奇米5555 | 成人a在线观看 | 国产区一区二区三区 | 久久厕所精品国产精品亚洲 | 99精品国产在热久久 | 在线播放亚洲视频 | 手机看片国产日韩 | 午夜三级理论在线观看视频 | 久久爱噜噜噜噜久久久网 | 国产成人欧美一区二区三区的 | 理论片中文字幕 | 国产免费观看a大片的网站 国产免费黄色网址 | 美女张开腿让男人桶的 视频 | 国产精品无打码在线播放9久 | 男的操美女 | 人人公开免费超级碰碰碰视频 | 99在线观看巨臀大臀视频 | 久草免费资源站 | 国产高清一级视频在线观看 | 亚洲免费一级片 | 免费黄色一级网站 | 成人免费一级片 | 欧美一区二区三区不卡免费观看 | 国产一区a |