BEIJING–The growth of credit to China's property sector moderated in the first quarter, as Beijing imposed new measures to cool the housing market, according to data released by the country's central bank Friday.
The People's Bank of China said total outstanding loans to the property sector rose 26.1% from a year ago to 28.39 trillion yuan ($4.13 trillion) at the end of March.
However, the growth rate was 0.9 percentage point lower than in the previous quarter, it said.
(END) Dow Jones Newswires
April 21, 2017 05:30 ET (09:30 GMT)
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