BEIJING (Reuters) – China’s central bank will not include affordable rental housing loans in a management system for property loans by banks, it said on Tuesday, in a bid to support the rental housing market.
Financial institutions need to step up support for affordable rental housing, the People’s Bank of China said in a statement on its website.
Since Jan. 1 last year, the PBOC has activated a concentrated management system for property loans, asking lenders to cap outstanding property loans and mortgages.
(Reporting by Stella Qiu, Zoey Zhang and Ryan Woo; Editing by Clarence Fernandez)
