China will curb financial risks in the rental housing market by tightening lendi...
FILE PHOTO: Residential apartments are located in downtown Shenzhen, China April 26, 2017. Picture taken April 26, 2017. REUTERS/Bobby Yip
The ministry described the sector’s development as “chaotic”, saying it had been filled with false listing information and malicious practices such as misuse of loans, illegal withholding of security deposits and forced evictions. Rental housing companies will be guided to set up “capital supervision” bank accounts for their income from rents and deposits to minimize risks, the guidance said. Banks should carefully evaluate firms’ ability to repay the loans, strictly review the use of these loans and prevent them from forming capital pools.
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