Bank lending has been weak recently but that could soon change. Quantitative controls on loans were loosened further in Q2, giving banks room to ramp up lending as credit demand rebounds following lockdowns. Meanwhile, a revival in the use of housing vouchers to compensate residents forced to relocate due to redevelopment could offer support to home sales. But with fewer communist-era buildings now being torn down, any prop will be smaller than it was a few years ago.
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