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China cenbank to exclude rental housing loans from management system -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A group of people walk through the Taoyuan-Xindu Kongquecheng, an apartment building built by China Fortune Land Development. It is located in Zhuozhou province, China. March 19, 2021. REUTERS/Lusha Zhang

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BEIJING, (Reuters) – China’s central banking will not allow affordable rentals to be included in a system of property loan management by banks. This was in an effort to help the rental housing market.

According to the People’s Bank of China, financial institutions should increase support for rental housing.

The PBOC initiated a concentrated management system in property loans on January 1, last year. It asked lenders to limit outstanding mortgages or property loans.

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