Nov 11, 2021 06:18 AM

FINANCE

China’s October Mortgage Lending Jumps as Restrictions Ease

By Peng Qinqin, Zhu Liangtao, Wu Xiaomeng and Denise Jia

What’s new: Mortgage loans accounted for more than 40% of China’s new bank lending in October as banks moved to ease up on real estate lending restrictions amid concerns about the debt crisis at China Evergrande Group.

Banks extended 826.2 billion yuan ($129.3 billion) of new loans in October, down sharply from 1.66 trillion in September, data released Wednesday by the People’s Bank of China showed.

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