(China Daily)
Updated: 2007-08-15 06:59

Banks in Shanghai issued 5.87 billion yuan in mortgages to homebuyers in July, an increase of 1.32 billion yuan, or 29 percent, from a month earlier, the central bank said.

The banks granted 3.92 billion yuan in government-subsidized home loans in July, more than five times the monthly average for the first half of this year, according to the Shanghai branch of the People's Bank of China.