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Banks deny halting home loans

By Wu Yiyao in Shanghai | China Daily | Updated: 2014-02-25 07:29

At least two major commercial lenders denied on Monday that they had stopped extending credit to property developers or suspended loans to homebuyers amid worries over possible debt defaults by some Chinese developers.

On Saturday, media reports said that Industrial Bank Co Ltd had halted loans to realty developers.

The reports also said that Bank of Communications Ltd had circulated an internal memo telling branches to suspend such loans.

Banks deny halting home loans

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