Tuesday, August 31, 2010

AgBank denies Beijing role in freeze in property loans-

AgBank denies Beijing role in freeze — ABC said yesterday it received no
orders from regulators to suspend property loans. The plan to halt corporate
lending for one week was a prudent internal decision, it said. ABC suspended
loans to developers from last Tuesday until today. "We halted part of the
lending to avoid excessive loan growth and to balance our loans portfolio,"
President Zhang Yun said. "Applications for real estate loans can still be
submitted to our head office and be reviewed on a case-by-case basis." (The

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