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Article: China : China Regulator Urges Banks To Monitor Developers Debt.

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TendersInfo
Article date:
November 5, 2009
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Byline: babalu03

China's banking regulator has urged banks to closely scrutinize debt levels at property developers before they issue loans to them, an official at the China Banking Regulatory Commission told Dow Jones Newswires on Wednesday.

The official, who declined to be named, said the regulator's warning came after a strong rebound in property prices since the second quarter. That recovery has prompted some developers to borrow excessively for speculative purposes and to buy land at high prices, which is further driving up property prices.

Property companies fell on the news. China Vanke Co. ended down 1.6% at CNY11.75 in Shenzhen and ...

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