People's Bank of China and China Banking Regulatory Commission, Measures for the Administration of Loans for Development of Economically Affordable Residential Premises

中国人民银行、中国银行业监督管理委员会经济适用住房开发贷款管理办法

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More banks are allowed to provide loans for the development of economically affordable residential premises.

Promulgated: January 18 2008
Effective: 30 days after the date of promulgation
Interpreting Authorities: People's Bank of China (PBOC) and China Banking Regulatory Commission

Applicability: The term “loans for development of economically affordable residential premises” refers to loans granted to borrowers that are used specifically for projects of developing and building economically affordable residential premises (Article 2). The term “lenders” refers to commercial banks and other financial institutions in the banking industry established according to law within the PRC. The term “borrowers” refers to real property developers with legal personality that have obtained the qualifications for real property development (Article 3).

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