BEIJING, Jan 6 (Reuters) - Delinquency rates on Chinese banks' property loans remain low, especially for residential mortgages, despite a downturn in the real estate market, a central bank official said on Tuesday. Banks had extended 2.95 trillion yuan in home loans by the end of November, up 10.6 percent from a year earlier and accounting for about 10 percent of their local currency lending, Huo Yingli, a deputy director in the financial market department of the People's Bank of China, told a news conference.
'Despite a correction in the property market and changes in house prices last year, the quality of property loans, especially home loans, is still good, with the non-performing loan ratio far below that of other types of loans,' she said.
(Reporting by Zhou Xin; Writing by Alan Wheatley; Editing by Ken Wills) Keywords: CHINA ECONOMY/PROPERTY (alan.wheatley@thomsonreuters.com; +86 10 6627 1235; alan.wheatley@reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'Despite a correction in the property market and changes in house prices last year, the quality of property loans, especially home loans, is still good, with the non-performing loan ratio far below that of other types of loans,' she said.
(Reporting by Zhou Xin; Writing by Alan Wheatley; Editing by Ken Wills) Keywords: CHINA ECONOMY/PROPERTY (alan.wheatley@thomsonreuters.com; +86 10 6627 1235; alan.wheatley@reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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