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China central bank to strengthen management of mortgage loan risks in Beijing

BEIJING (Reuters) - The People's Bank of China (PBOC) will strictly check the source of down payments by individuals purchasing property in Beijing, the Beijing operations office of the Chinese central bank said in a statement on Friday.

To fend off credit risks, the ability of borrowers to repay property loans will also be assessed, according to guidelines issued by the office on strengthening management of mortgage loan risks in Beijing.

(Reporting by Ryan Woo; Editing by Michael Perry)

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