A residential community in Nanning, south China's Guangxi Zhuang autonomous region. Data shows that despite government warnings, China’s big banks are pouring loans into the property sector. Photo: Xinhua

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

  • About half of new loans issued by China’s big six banks last year went to individual property buyers, despite Beijing’s orders to lend to private companies
  • Total business loans fell by half in 2018, while individual housing loans only slowed by 6.3 per cent
Topic |   China economy

TOP PICKS

A residential community in Nanning, south China's Guangxi Zhuang autonomous region. Data shows that despite government warnings, China’s big banks are pouring loans into the property sector. Photo: Xinhua
READ FULL ARTICLE