Lending to Welfare Housing Surges 47.7% in March


The latest data from China’s central bank indicates that loans for the development of welfare housing surged nearly 48% year-on-year in the month of March.

Figures released by the People’s Bank of China indicate that the lending balance for welfare housing development was 2.75 trillion yuan as of the end of March, for a year-on-year increase of 47.7%.

Th growth rate for welfare housing loans is leaps and bounds ahead of other lending categories, outpacing them by 35.3 percentage points, as well as rising 9.4 percentage points compared to the end of last year.

As of the end of March the agricultural lending balance was 29.23 trillion yuan, for year-on-year growth of 8.9%, while lending to micro-enterprises was 21.94 trillion yuan, for a year-on-year increase of 17%.