Monday, November 22, 2010

China Trust Firms Halt Property Loans

China's trust firms halt property loans -sources
Seeing risks in rapid credit expansion to real estate projects, the China Banking Regulatory Commission last week instructed trust firms to assess the risks posed by their portfolios in a fresh move to rein in the red-hot property market.
Property-related trust investment totalled 150 billion yuan ($22.6 billion) in the first 10 months of this year, compared with 40 billion yuan in the whole of 2009, according to Use Trust Studio, a private data provider. ($1=6.639 Yuan)

On the heels of the false rumors last week regarding banks halting property loans. This seems a bit better sourced.

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