Mortgage loans projected to record slower growth: PBOC

After increasing at a fast pace last year, mortgage loans are expected to record slower growth, said Zhou Xiaochuan, governor of the People's Bank of China, the country's central bank, on Friday.

Extension of mortgage loans will help to reduce real estate stocks in lower-tier cities, but it may lead to price rises in major cities, Zhou said, adding that mortgage loans can boost growth of related industries. "We should adopt a relatively balanced policy (on mortgage loans)," he said.

Zhou said mortgage loans may continue to rise at a "relatively fast" pace, although it may moderately slow in the coming years.