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Banks to implement new property curbs

2010-04-16 14:13 BJT

China's banking regulator pledged on Friday to firmly enforce new government rules aimed at cooling the country's red-hot property market. The China Banking Regulatory Commission ordered banks to be vigilant in assessing the credit worthiness of mortgage applicants and to crack down on fake mortgages, such as loans purportedly to buy a house but earmarked for other uses.

Editor: Du Xiaodan | Source: