Core Viewpoint - The article discusses the current state of personal housing loans in China, highlighting the significant role of major banks in this sector and the rising non-performing loan (NPL) rates due to a sluggish real estate market [2][3][4]. Group 1: Personal Housing Loan Balances - As of June 2025, the total personal housing loan balance in China reached 37.74 trillion yuan, with the top eight banks accounting for 73.17% of this total [2]. - The major banks' personal housing loan balances as of June 2025 are as follows: Industrial and Commercial Bank of China (ICBC) at 6.05 trillion yuan, China Construction Bank (CCB) at 6.15 trillion yuan, and Agricultural Bank of China (ABC) at 4.93 trillion yuan [3][4]. Group 2: Non-Performing Loan Rates - The NPL rate for personal housing loans at ICBC increased to 0.86% by June 2025, up from 0.73% at the end of 2024, marking a significant rise over the past five years [4][5]. - Other major banks also reported NPL rates exceeding 0.7%, indicating a widespread issue across the banking sector [5]. Group 3: Measures to Address NPLs - In response to rising NPLs, banks have increasingly turned to the securitization of personal housing loans as a means to manage these assets [8][11]. - The number of securitization projects has grown from 6 in 2020 to 29 in 2024, with 19 projects already completed in the first half of 2025 [8][13]. - The total amount of personal housing NPLs disposed of through securitization reached 70.11 billion yuan in 2024, with 49.59 billion yuan disposed of in the first half of 2025 [11][14]. Group 4: Impact on Housing Market - The increase in securitization and the corresponding rise in the number of disposed loans suggest that banks may become significant sellers of housing, potentially impacting housing prices negatively [16][26]. - The number of housing units associated with disposed NPLs reached 83,779 in the first half of 2025, indicating a substantial volume of properties being sold off [16][26].