Loans to China's real estate sector grew at a slower pace in the first quarter as government purchase restrictions remain in place in major cities, data from the central bank showed.

By the end of last month, financial institutions had lent 34.1 trillion yuan (5.4 trillion U.S. dollars) to the property sector, up 20.3 percent year on year, according to a report from the People's Bank of China (PBOC).

Newly-built high-rise residential buildings in Huai'an city, east China's Jiangsu province, December 8, 2017.

Newly-built high-

rise residential buildings in Huai'an city, east China's Jiangsu province, December 8, 2017.

The growth was 0.6 percentage points lower than the rate seen at the end of last year.

Outstanding loans for individual purchases went up 20 percent to 22.86 trillion yuan, retreating 2.2 percentage points from the end of last year.

The data came amid continued government efforts to rein in property speculation, particularly in major cities.

To curb speculation, local governments have passed or expanded restrictions on house purchases and increased minimum downpayments required for mortgages.

In addition, China is working to implement a long-term mechanism for property regulation that ensures supply through multiple sources, provides housing support through multiple channels, and encourages both housing purchases and rentals.

To guide money to the more needy sectors such as small businesses and agriculture, China's central bank in January implemented a targeted reserve requirement ratio (RRR) cut to commercial banks that extend a big enough proportion of their outstanding or new loans to the desired industries.

Commercial banks whose annual outstanding or new loans in inclusive financing account for more than 1.5 percent of the total enjoy a 0.5 percentage point RRR cut from the central bank's benchmark level from next year.

The RRR will be cut further by 1 percentage point if the ratio exceeds 10 percent, according to the central bank.

Inclusive financing covers credit support for small business owners, agricultural development, impoverished groups and students.

The central bank data showed the country's outstanding loans to small and micro businesses totalled 25.1 trillion yuan at the end of March, accounting for 32.7 percent of overall business loans.

对中国的房地产行业贷款增速放缓在第一季度政府采购限制仍然发生在大城市，从中央银行的数据显示。

到上个月末，金融机构发放的贷款为34兆1000亿元（5兆4000亿美元）的房地产行业，同比上涨20.3%，据中国人民银行（央行）的报告。

新建的高层住宅楼在淮安市，东中国的江苏省，2017年12月8日。

增长率比去年年底下降了0.6个百分点。

个人购房贷款余额较上年同期增长20%至22兆8600亿元，比去年同期回落2.2个百分点。

这些数据是在政府继续努力控制房地产投机的情况下进行的，尤其是在主要城市。

为了抑制投机行为，地方政府已经通过或扩大了购房限制，增加了抵押贷款所需的最低首付金额。

此外，中国正在实施房地产调控，确保供应通过多种来源的长效机制，通过多种渠道提供住房支持，并鼓励购买住房的租金。

引导资金更贫乏的行业如小企业和农业，一月中国央行实施了有针对性的存款准备金率（RRR）削减商业银行扩展一个足够大的比例，他们的杰出的或预期的行业新增贷款。

商业银行在包容性融资中的年度新增贷款占总贷款总额的1.5%以上，比央行明年的基准利率下调0.5个百分点。

根据央行的规定，RRR将进一步降低1个百分点，如果该比率超过10%。

包容性融资包括对小企业主、农业发展、贫困群体和学生的信贷支持。

央行数据显示，截至3月底，全国对小微企业的贷款总额为25兆1000亿元，占企业贷款总额的32.7%。