Banks suspend the mortgage business in China’s second and third tier cities

According to the China Securities Journal, in China’s second and third tier cities, such as Chongqing and Nanchang, some commercial banks had been suspended a number of personal loan business. Many buyers said that even if the mortgage application has been approved, they could not get the money in time. Industry experts believe that the “credit control policies was the reason to force banks to continually tighten the personal loan business.

Caijing

 Translated and edited by Peng Bo. He is now an editor of m4.cn. Write to him at pb.bloomberg@gmail.com.

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