China's property loans accelerate

Amid the recent slew of curbs to hit China's real estate sector, new data shows loans to the country's property market accelerated by the end of last month.

Fresh figures from China's central bank showed total outstanding yuan-denominated lending from both Chinese and foreign financial institutions stood at nearly 66 trillion yuan as of the end of March, up 15 percent from a year earlier.

Meanwhile, outstanding lending to the property sector increased over 16 percent year-on-year to 13 trillion yuan or nearly 2 trillion dollars during the same period.

Analysts attribute the rebound to discounts offered by developers and consumer expectations for further price rises despite those housing curbs.