BEIJING (Reuters) -China issued more than 1.3 trillion yuan ($181 billion) in 2024 under the country’s housing provident fund programme for individual mortgage loans, down 11.4% from the previous year, according to Reuters’s calculations based on government reports.
Last year, China issued over 2.3 million individual mortgage loans compared with almost 2.9 million in 2023, according to annual reports jointly issued by the Chinese finance ministry, housing ministry and the central bank.
Contributions to the fund stood at 3.63 trillion yuan in 2024, marking an increase of 4.67% over the previous year, the annual report for 2024 issued on Thursday showed.
($1 = 7.1816 Chinese yuan)
(Reporting by Beijing Newsroom; Editing by Jacqueline Wong)
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