China's major banks deny suspension of real estate loans

BEIJING - China's top four banks on Monday rejected reports that they would stop lending to real estate developers for the remainder of the year.The press offices of the four State-owned banks, the Industrial and Commercial Bank of China, China Construction Bank, Bank of China, and the Agricultural Bank of China, all denied the reports during telephone calls made by Xinhua Monday.A report Sunday by China Real Estate Business, a Beijing-based weekly, said the four banks had suspended credit to developers as of the end of October.