Chinese lenders' household loans surged more than 80% to CNY202.8bn ($30.7bn) YoY in November, according to the People's Bank of China. Bobby Yip New short-term household lending, which includes credit card debt and car loans, rose more than 80 percent to 202.8 billion yuan ($30.65 billion) in November from a year ago, and nearly trebled from the previous month. The surge was driven by a rise in home purchases and rising property prices, which have pushed up mortgage repayments for many borrowers. Household loans growth is expected to continue rising this year, with Natixis predicting the proportion of total loans they'll account for will expand 25%.
Chinese lenders' household loans surged more than 80% to CNY202.8bn ($30.7bn) YoY in November, according to the People's Bank of China. The surge was driven by a rise in home purchases and rising property prices, which have pushed up mortgage repayments for many borrowers. Household loans growth is expected to continue rising this year, with Natixis predicting the proportion of total loans they'll account for will expand 25%.