May 03, 2024 07:14 PM

ECONOMY

China’s Outstanding Personal Mortgages Shrink Even Faster

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China’s outstanding personal mortgages declined at a faster pace of 1.9% year-on-year at the end of March, as the protracted real estate downturn continues to weigh on demand.

The rate was 0.3 percentage points faster than a quarter earlier, resulting in a balance of 38.2 trillion yuan ($5.4 trillion) at the end of March, figures from the People’s Bank of China (PBOC) show.

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