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A construction site in Fuzhou, southeast China's Fujian Province, November 21, 2022. /CFP
Outstanding real estate loans in China increased 1.5 percent year on year to 53.16 trillion yuan ($7.88 trillion) in 2022, central bank data showed on Friday, as the sector was mired in difficulties.
The growth rate of outstanding loans was 6.5 percentage points slower than in 2021, according to the People's Bank of China.
Outstanding real estate development loans performed better with a year-on-year increase of 3.7 percent to 12.69 trillion yuan, 2.8 percentage points higher than in 2021.
China has rolled out multiple measures to support its property sector.
The country's securities watchdog unleashed a set of policy tools, dubbed "three arrows," in November to facilitate equity financing for real estate firms through three financing channels: credit, bonds and equity. Analysts said this boosted industry confidence and expectations.
Total outstanding loans of financial institutions hit 213.99 trillion yuan by the end of 2022, a year-on-year increase of 11.1 percent.
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Disinformation report hotline: 010-85061466