China's personal housing loans see faster growth

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Aerial photo taken on Feb. 17, 2020 shows buildings under construction in Nanguan District of Changchun City, northeast China's Jilin Province. [Photo/Xinhua]

Loans for China's individual home purchases have sustained sound growth momentum, with a faster increase in November compared with that in October, according to data from the People's Bank of China (PBOC) on Monday.

By the end of November, China's outstanding personal housing loans totaled 38.1 trillion yuan (about 6 trillion U.S. dollars), up 401.3 billion yuan from the end of October, the PBOC data shows.

The November growth volume was 53.2 billion yuan higher than that registered in October.

Outstanding loans for individual home purchases rose in October by 348.1 billion yuan, up 101.3 billion yuan from the monthly loan increase in September, the data shows.

In the first three quarters, China's issuance of personal housing loans remained stable, while the growth of real-estate development loans declined significantly. Under the guidance of financial regulators, the real-estate related loans saw steady and orderly issuance.

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