China's Minsheng Bank has no fundraising plans at present and will not cut loans for property developers this year, its chairman Dong Wenbiao told reporters on Thursday.
The medium-sized Chinese bank is aiming for lending growth of 23 percent this year and deposit growth of 30 percent, Dong said while attending the annual session of the CPPCC.
"Currently, loans to property developers account for 13 percent among our lending," Dong said.
He says he believes the bubble in China's real estate market is not as serious as holding property prices in second- and third-tier cities at a healthy level.
"In fact, even though the property price dropped 50 percent, our non-performing loans ratio will not soar, thanks to our risk management scheme," said Dong.
