China's new loans stood at 774 billion yuan in April.
New policies aimed at cooling the property market issued by the State Council in April would certainly bring down the new loan amount in May, the report said.
Sources with a State-owned bank's branch in Northeast China told the paper that all commercial real estate development loan operations were halted there, while financing business for affordable housing projects is going on normally.
Lu Zhengwei, a senior economist with Fuzhou-based Industrial Bank, predicted that new loans in May will be 450 billion to 650 billion yuan.
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