CDB loans 52.7 bln yuan to housing projects in H1
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Xinhua, July 28, 2011
China Development Bank said Thursday that it lent 52.7 billion yuan (US$8.1 billion) to finance housing projects for low-income earners in the first half of this year.
The bank reported a rise of 44.3 billion yuan in outstanding loans to affordable housing projects in the first half, the lender said in a statement.
The rise was nearly half the increase of 90.8 billion yuan in affordable housing loans from Chinese banks in the period, it said.
The policy-oriented state-owned bank promised to loan 100 billion yuan to finance affordable housing projects in 2011.
China aims to build 10 million units of affordable homes this year, part of its plan to build 36 million units in the five years to 2015 as it attempts to stabilize runaway property prices.
