Connect with us

Hi, what are you looking for?

Imsilkroad

China acts to prevent business loans flowing into property market

Abstract : Chinese authorities moved Friday to tighten the regulation of business loans to prevent them from illegally flowing into the property market.

BEIJING, March 26 (Xinhua) — Chinese authorities moved Friday to tighten the regulation of business loans to prevent them from illegally flowing into the property market.

Banking financial institutions should be stricter on verifying the qualifications of business-loan borrowers, according to a document jointly issued by the China Banking and Insurance Regulatory Commission, the Ministry of Housing and Urban-Rural Development and the People’s Bank of China.

Enterprises without any actual business should not be granted business loans, while new enterprises that have been established or received equity rights for less than a year, as well as borrowers who have been in possession of a mortgaged property for less than a year, should undergo more stringent examination, the document said.

Banking financial institutions are instructed to enhance investigations into the purposes of business loans, especially with borrowers who applied shortly after they concluded real-estate transactions.

The document called for boosting management during and after the loan services and strengthening the monitoring of post-loan capital flows.

Business loans will be withdrawn immediately if they are found to have been used in the property market, and the borrowers will face reduced credit lines and be investigated for legal responsibilities, it said.

Local authorities will carry out a special investigation into the illegal inflow of business loans into the property market before the end of May, and greater efforts will be made to rectify and punish the irregularities, according to the document. Enditem

About Xinhua Silk Road

Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.China’s silk road economic belt and the 21st century maritime silk road website,includes BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: China acts to prevent business loans flowing into property market

Press Release Wring Service
Press Release Wring Service Senmer Press Release Service

Trending

You May Also Like

Purifier

Hot selling well newest reserch humidifier with three grades mist output air purifiers 1 Specification& function Specification Product name 6-Stage Purification Air Purifier With Negative Anion and Humidifier Model No. OLS-K05 Negative ionic releasing(/cm3) 50 million...

Purifier

Best indoor air purifier small house purification with HEPA Porduct Name Air Purifier Model A3 Style Household / business type Lowest Noise 30 dB Particulate CADR 200m³/h Highest Noise 58 dB Voltage 110 / 220V(Optional) Rated Power...

Sticky Post

Repost Your Products Articles To Web2.0 + Social Sites + Photo Sites + Bookmark Sites 0.5$ to publish 1 article to 15 sites,average just...

Purifier

We believe that always we would hear the hydrogen water have antioxidation fuction, actually we don’t know what is antioxidation and why it’s so...