国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

   
 

Warning bell for mortgage market

By Hu Yuanyuan (China Daily)
Updated: 2007-08-22 10:01

The US subprime crisis will have limited impact on China's mortgage market, but it has raised the need for stricter examination of individual credit and higher down payments, insiders said.

The US subprime issue has had almost no impact on China's mortgage market, said Li Ling, general manager of the examination and approval department at the Shenzhen Development Bank (Beijing branch).

"In fact, measures taken last year to address increasing risks in the market had already seen our loans to real estate developers shrink by almost half in the past year," Li told China Daily. "They now account for a very small proportion of our business."

Mortgage down payments currently range from 20 to 30 percent, but in real terms they are 10 percent or even zero given the inflated prices, Li said.

Property prices in the country's 70 large and medium cities rose by 7.5 percent year-on-year last month, the highest growth rate since 2006 and 0.4 of a percentage point higher than for June.

"Increasing down payments is a must," Li said.

The Shenzhen branches of some banks raised the down payment from 30 to 40 percent and put a stop to mortgages on pre-owned houses last week.

Shenzhen prices increased at a rate of 16.1 percent for new houses and 21.4 percent for pre-owned homes in July, leading the country's property price growth, the National Development and Reform Commission said.

"We might see more increases in Beijing, but down payments could differ according to the client's credit background," Li said.

According to Tao Dong, chief economist with Credit Suisse First Boston Asia, the US subprime issue sounds a warning bell for China's mortgage market.

"Banks should be more careful and cautious in examining the credit of homebuyers," Tao said.

Peng Xingyun, a researcher with the Financial Research Institute of the Chinese Academy of Social Sciences, called for stricter supervision and risk management of the country's mortgage market.

"China's mortgage market has shown some features of the US subprime crisis, as property prices keep rising and the interest rate goes up," Peng said.


(For more biz stories, please visit Industry Updates)



霍邱县| 怀远县| 古蔺县| 靖边县| 合阳县| 晋宁县| 沁阳市| 桦南县| 阿勒泰市| 竹北市| 湄潭县| 河南省| 外汇| 浦北县| 彰武县| 资中县| 盖州市| 文昌市| 内丘县| 会昌县| 克拉玛依市| 沁源县| 英山县| 山阳县| 抚顺市| 大埔县| 久治县| 江阴市| 新蔡县| 宜君县| 阳高县| 金溪县| 美姑县| 家居| 浮梁县| 兴宁市| 洱源县| 高尔夫| 友谊县| 十堰市| 射洪县|