The latest official data points to a rebound in real estate financing levels despite the ongoing impacts of Evergrande Group’s debt crisis.
As of the end of October the personal home loan balance of Chinese banks was 37.7 trillion yuan, for an increase of 348.1 billion yuan in the month of October, according to the latest data from the Chinese central bank.
The October increase was 101.3 billion yuan ahead of the increase in September.
The Chinese central bank’s official news outlet also hailed the strong performance of real estate stocks and bonds since the start of November.
“In actuality, despite the risk incidents of individual real estate enterprises during the past period that have caused market concern and a chain reaction, there are also market figures in whose analysis the spread of risk has been overestimated,” said Financial News.
According to Financial News sources from multiple Chinese banks have reported a large-scale increase in real estate development loans in October, while real estate lending has further expanded since the start of November, with expectations that on-month gains are set to continue.