Banking regulators in Beijing have cracked down on individual business loans that are illicitly used by borrowers to personally purchase properties, as China increases efforts to rein in housing market speculation and mitigate risks to the financial system.
Caixin
Beijing targets fake business loans used by homebuyers
Authorities try to cool real estate speculation and financial risks
People look at a scale model of apartment buildings in Xuchang, in central China: The government is cracking down on illegal business loans used to purchase housing. © Reuters
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