Hong Kong’s new mortgage loans extended by mainland banks hit 900 billion yuan (S$179.63 billion) in March, said a report.
According to the China Securities Journal, total loans in the first three months of 2012 reached 2.35 trillion yuan (S$468.95 billion), slightly below the 2.4 trillion yuan (S$479.07 billion) target for the period.
Loans from big four state-owned banks — Agricultural Bank of China, China Construction Bank Corp, Bank of China Ltd and Industrial and Commercial Bank of China — reached 300 billion yuan (S$59.9 billion) last month, accounting for between 30 and 40 percent of the total new loans in the mainland banking system. Several analysts expect lending to hit eight trillion yuan (S$1.6 trillion) this year.
Meanwhile, the China Banking Regulatory Commission (CBRC) has ordered commercial banks to set up a complaints system and enhance its transparency over fees.
CBRC added it will continue to monitor the compliance of these commercial banks.
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