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Banks in China's top tier cities are tightening home mortgage loans as housing markets in the cities heat up and after the country's top financial regulators imposed caps on banks' new real estate loans.
Among the country's four tier-one cities, Shanghai, Guangzhou and Shenzhen have seen home mortgages tightened recently.
In Shenzhen, branches of several joint-stock banks including China Merchants bank, China Guangfa Bank and Everbright Bank has suspended home mortgage business. While branches of large state banks in the city are still granting home mortgages, the quotas are tightening . . .
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