China's top cities step up crackdown on consumer loans, business operating loans flowing into housing markets

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Financial regulators in the China's top cities including Beijing, Shanghai, Guangzhou and Shenzhen have are stepping up crackdown on consumer loans and business operating loans illegally flowing into the real estate market.

Shenzhen’s financial regulator recently met with a number of commercial banks, requiring them to conduct investigation of the flows of business operating loans into the real estate sector, the state-run Economic Information Daily reported on Tuesday.

The investigation covers inclusive loans of less than 10 million yuan issued after May 1 last year as well as unlimited mortgage-backed business . . .

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