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Land mortgage's loans hit USD1.25b in China
(MENAFN) Land mortgage's outstanding loans in 84major Chinese cities hit USD1.25 trillion at the end of last year, Xinhua reported.
The country's ministry of Land and Resources said that 403,900 hectares of land were on mortgage at the end of 2013.
Land mortgage in China is a major way for the government and property developers to collect credit from banks.
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