China’s Outstanding Personal Mortgage Loans Post First Fall In Almost 20 Years

What’s new: China’s outstanding personal mortgage loans edged down 1.6% in 2023, according to government data, marking the first annual decline in nearly two decades.

At the end of 2023, the country’s outstanding personal mortgage loans totaled 38.17 trillion yuan ($5.4 trillion), according to data provided Friday by the People’s Bank of China (PBOC). It was down from the 38.8 trillion yuan at the end of 2022.