China Bank watchdog launched inspection

Byzjx

Updated Wed, 27 Apr 2005 00:00:00 GMT

China Banking Regulatory Commission (CBRC), China's banking watchdog, launched an inspection on the real estate loan of 12 commercial banks in eightcities or provinces of China, said sources with the CBRC.

    So far, all those commercial banks have finished the self-inspection work and the CBRC with the help of local banking regulatory commissions will spot-check the results of those banks.

 the inspection aims to strengthen supervision on real estate loan of commercial banks andto prevent loan risks. It is also a move corresponding to the macro-economic control of the central government to stabilize the soaring price of real estate in major cities of the country.

    The inspection includes the loan and risk status of various real estate, capital sources and sale conditions of real estate projects and the implementation of regulations and systems on realestate loan.