Recently, Beijing, Shanghai, Shenzhen and other places have issued multiple tickets.
Where is the difficulty of supervising credit funds entering the property market in violation of regulations?
Our reporter Guo Ziyuan
Regarding the issue of illegal entry of credit funds into the property market, the regulatory authorities continue to maintain a rigorous investigation.
Recently, the Banking and Insurance Regulatory Bureau of Beijing, Shanghai, Shenzhen and other places successively issued a number of fines, all of which involved business loans and consumer loans illegally used to purchase houses.
"Recently, we fined five banks 366 million yuan because they violated regulations for carrying out real estate financing business," said Liang Tao, vice chairman of the China Banking and Insurance Regulatory Commission.
The illegal entry of credit funds into the property market not only disrupts the order of the real estate market, but also easily raises financial risks in related fields.
In response to this, the Ministry of Housing and Urban-Rural Development and other eight departments issued a notice a few days ago, proposing to give play to departmental synergy. Among them, the financial supervision department is responsible for investigating and punishing the illegal inflow of credit funds into the real estate market.
Why are credit funds illegally entering the property market after repeated prohibitions?
Where are the difficulties in supervision?
In addition to punishment after the incident, how to effectively prevent the incident before the incident?
In this regard, the Economic Daily reporter interviewed relevant people.
Regulatory actions continue to increase
Rectifying and regulating the order of the real estate market is not only an important measure to promote the stable and healthy development of the real estate market, but also has a bearing on the vital interests of the people and the overall situation of economic and social development.
Although the early rectification work has achieved obvious results, violations of laws and regulations have occurred from time to time, and many weak links still exist.
The illegal entry of credit funds into the property market is one of the weak links.
On July 27, the Shanghai Banking and Insurance Regulatory Bureau announced administrative penalties against a number of financial institutions. The branches of the five major state-owned banks all received fines for "working capital and consumer loans flowed into the real estate market in violation of regulations."
Prior to this, the Shenzhen Bureau of Banking and Insurance Regulatory Bureau also issued multiple fines. The facts of violations of laws and regulations mostly involved "personal business loans and personal consumption loans were not properly reviewed and credit funds were misappropriated."
"In response to the illegal inflow of business loans into real estate, we have established a reporting and consultation area." The relevant person in charge of the Shanghai Banking and Insurance Regulatory Bureau said that before this, the bureau had jointly carried out special investigation actions with the Shanghai Municipal Housing and Construction Commission and the Shanghai Headquarters of the People's Bank of China.
"We must insist on the positioning of'houses are for living, not for speculation', and prevent personal business loans from being misappropriated in the real estate market." The relevant person in charge of the Beijing Banking and Insurance Regulatory Bureau said that the bureau has required banks to strictly lend. Pre-investigation, strengthening of payment management, implementation of post-loan management, and timely discovery and containment of business loopholes.
For example, in order to help home buyers obtain personal business loans from banks, some real estate intermediaries will even provide home buyers with "shell companies" for fraudulent loans.
"When banks and third-party institutions cooperate in granting loans, if they find that the intermediary agencies have illegal activities, they must immediately terminate the cooperation and report relevant clues to the supervisory authority." The person in charge said.
In addition, the Beijing Banking and Insurance Regulatory Bureau will combine regulatory big data to further strengthen off-site monitoring and on-site inspections. If it is found that the credit management of financial institutions is not prudent, causing personal business loans to flow into the real estate market in violation of regulations, the financial institution will be Strictly and re-investigate.
Many difficulties remain to be solved
Since the beginning of this year, although the supervision has maintained a high-pressure situation, the reporter's investigation found that some home buyers still have illusions about embezzling credit funds to buy houses.
During an unannounced visit to a number of intermediary stores in Beijing, the reporter found that it is not uncommon for buyers to consult about business loans and consumer loans—"With my credit status, how much can I borrow from a bank? Banks that cooperate with your intermediary? Can I borrow more?" "I don't have a company under my own name. Can the intermediary help me get the qualifications to apply for a business loan?" "Consumer loans have a short period and I have to pay too much money in one month. Can you help me apply again? Make up for other loans?"
It is clearly a violation of laws and regulations, why some buyers still have greater demand?
According to many industry insiders, there are two main reasons: First, it is difficult for banks to effectively make accurate judgments on the ultimate real flow of business loans and consumer loans, and some borrowers have a fluke mentality; second, home buyers generally hold expectations of rising housing prices. Even if violations of laws and regulations are found, the price increase and premium of their real estate can still cover related risk losses.
"If it is a credit card payment, the money borrowed by the bank will be clearly credited to the seller's account and it is difficult to be misappropriated." The relevant person in charge of the personal finance department of a state-owned bank said, but business loans and consumer loans are different. The bank distributes cash to borrowing. Personal accounts, if the borrower transfers money to other bank accounts, especially multiple transfers between multiple banks, or direct cash withdrawals, the original lending bank has no way to monitor, because inter-bank issues are involved.
"For banks, monitoring the use and flow of loan funds is an old and difficult problem." Dong Ximiao, chief researcher of China Merchants Finance and part-time researcher of Fudan University Financial Research Institute, suggested that financial supervision departments use scientific and technological means to build a credit fund flow that covers the entire industry. The monitoring system improves the capability and efficiency of loan use monitoring.
At the same time, it is recommended to increase the cost of illegal misappropriation of loans by borrowers, and establish a blacklist of misappropriated loans and other systems to curb the illegal flow of credit funds into the property market from the source.
Break the expectation of continued rising housing prices
In addition to the difficulty of supervision, another major factor that facilitates the illegal entry of credit funds into the property market is that home buyers generally hold expectations of rising housing prices.
"The most fundamental thing is to strengthen the regulation of the real estate market and break the expectation of continued housing price rises. Only in this way can we fundamentally reduce the illegal inflow of operating loans and consumer loans into the real estate market." Dong Ximiao said, at the same time, we must insist on preservation We will implement differentiated housing credit policies and increase credit support to support rigid housing demand.
"In the long run, the establishment of a long-term mechanism for the real estate market is still pending." Zeng Gang, deputy director of the National Finance and Development Laboratory and director of the Shanghai Finance and Development Laboratory, believes that financial regulation is only part of it, and multi-sectoral efforts should be exerted.
Multi-sectoral coordination has also received great attention from the Ministry of Housing and Urban-Rural Development.
The "Notice on Continuous Improvement and Standardization of the Real Estate Market Order" clearly states that it is necessary to integrate resources, establish a departmental linkage mechanism, and improve the ability to comprehensively rectify the real estate market order.
Among them, the housing construction department is mainly responsible for leading the organization and implementation of rectification work, and in conjunction with relevant departments to investigate and deal with violations of laws and regulations in the real estate field according to their duties; the development and reform department is mainly responsible for coordinating and collecting information on violations of laws and regulations in the real estate field, incorporating it into the national credit information sharing platform, and promoting various departments Implement joint sanctions for untrustworthiness of relevant enterprises and employees in accordance with laws and regulations; tax authorities are mainly responsible for investigating and punishing unlawful acts of avoiding housing transaction taxes and fees; market supervision authorities are responsible for investigating and punishing false and illegal real estate advertisements, price violations, and unfair format clauses that infringe consumer rights and interests, etc. problem.
"In the next step, the China Banking and Insurance Regulatory Commission will continue to implement the long-term real estate regulation and control mechanism of the Party Central Committee and the State Council, adhere to the positioning of'houses are for living, not for speculation', and to maintain the continuity and stability of real estate financial regulatory policies and avoid The ups and downs of house prices have promoted the stable and healthy development of the real estate market.” Liang Tao said that he will maintain a high pressure on illegal businesses, prevent real estate business risks, and prevent chaos from resurgence.
Many people in the industry also said that despite the current phenomenon of consumer loans entering the property market in violation of regulations, they should not give up their food due to choking and negate their positive effects across the board.
"Experience shows that in the process of a country's economy becoming mature, the increase in the quantity and quality of residents' consumption will become an important driving force for economic growth and structural upgrading." Dong Ximiao said that consumer finance should be correctly understood in terms of promoting consumption and expanding domestic demand. Play a positive role.