Banks required to implement differentiated housing credit policies
Banks should reasonably control the growth rate and proportion of their real estate loans, and strictly implement differentiated housing credit policies, the Shanghai Headquarters of People's Bank of China said in a credit policy guide for 2021.
Banking institutions should give priority to meet residents' demand for their first apartment, strengthen the management of personal mortgage loans, strictly examine the authenticity of borrowers’ personal information, and effectively prevent consumer loans and operating loans from flowing into the real estate market.
The guideline also proposes that in 2021, financial institutions in Shanghai should continue to make efforts to support local enterprises, especially small businesses and help ensure employment.
More financial support is recommended for scientific and technological innovation, manufacturing and green low-carbon industries.
Banks are summoned to actively serve the implementation of the national strategy of high-quality integrated development in the Yangtze River Delta, support the development of key industries in Lingang New Area, and increase support for the implementation of the rural revitalization strategy.
In 2020, the Shanghai Headquarters of the People's Bank of China said it guided banks in the city to provide financial services for epidemic prevention, supply protection and resumption of production in an orderly manner, and offered strong support for the rapid recovery of the real economy.
New loans for the whole year reached 674.1 billion yuan (US$103.8 billion), an increase of 113.1 billion yuan over the previous year.
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Sep 22, 2026
