SHANGHAI Feb 27 China's major lenders have not
tightened or halted their property-related lending business, the
official Xinhua news agency said, after local media reported
that some banks had stopped lending to real estate developers.
Chinese media, including the official Shanghai Securities
News, have reported that some lenders such as Industrial Bank Co
Ltd had stopped lending to developers, fuelling
concerns over a cooling property market.
China's Top Five banks -- Industrial and Commercial Bank of
China (ICBC) , Bank of China Ltd
, Agricultural Bank of China
, China Construction Bank and
Bank of Communications (BoCom) -- all said
there was no policy change in their real estate-related lending
business, Xinhua said on Wednesday.
Mid-sized lenders China Merchants Bank Co Ltd
, China Minsheng Banking Corp Ltd
, China Citic Bank Corp Ltd and
China Everbright Bank Co Ltd , also said
their property business was as usual, Xinhua said.
Officials at ICBC, BoCom, China Merchants and Minsheng
confirmed that there was no change in their property lending
policies when contacted by Reuters.
Bank of China said on its website on Wednesday that its real
estate lending policy had not changed and business would
continue to grow steadily this year.
Officials at Citic, Everbright, CCB and AgBank could not be
immediately reached for comment.
Industrial Bank clarified in a statement on its website on
Monday that it had stopped granting new credit lines to certain
developers as it was reviewing its property lending business
ahead of a new set of internal management rules to be introduced
Mainland China shares fell to their lowest in two weeks on
Tuesday after data showed house price growth slowed for the
first time in 14 months in January, with prices in five cities
declining on a month-on-month basis.
(Reporting by Samuel Shen, Shanghai newsroom and Kazunori
Takada; Editing by Jacqueline Wong)