China News Service, Beijing, February 9 (Reporter Pang Wuji) In the beginning of 2022, due to the impact of market confidence has not been fully restored, the financing of Chinese real estate companies is weak.

　　According to data released by the China Index Research Institute on the 9th, the total financing of real estate companies in January 2022 was 79.22 billion yuan (RMB, the same below), a year-on-year decrease of 70.3% and a month-on-month decrease of 16.6%. The single-month financing scale has declined for 11 consecutive months. .

　　Specifically, each channel showed a significant year-on-year decline.

According to the agency's data, in January, credit bond financing in the real estate industry fell by 53.6% year-on-year; overseas debt financing fell by 88.0% year-on-year; trust financing fell by 83.9% year-on-year; ABS financing fell by 47.2% year-on-year.

　　Generally speaking, January is usually the peak of financing for real estate companies, especially overseas bonds are often issued in a concentrated manner.

Chen Xing, deputy research director of the Enterprise Division of the China Index Research Institute, pointed out that from January 2019 to January 2021, the total financing of real estate enterprises was 282.33 billion yuan, 224.67 billion yuan and 266.46 billion yuan, accounting for 12.2% of the total annual financing. , 9.4% and 15.1%.

However, the total amount raised in January this year was less than a third of the previous year.

　　Chen Xing believes that the weakening of the solvency of real estate companies makes investors more cautious, which is the main factor behind the decline in total financing.

　　Statistics from the Shell Research Institute also show that in January 2022, the cumulative domestic and overseas bond financing of real estate companies was about 48.1 billion yuan, a year-on-year decrease of 70%.

The agency believes that by the end of 2021, the policy side will actively release positive financial signals, and the domestic financing environment will be moderately adjusted. However, the scale of bond issuance at the execution level has not been significantly improved.

This means that the current wait-and-see mood in the capital market is still there, the risk clearing has not yet been completed, and market confidence has not been fully restored.

　　It is worth noting that in January, China Merchants Shekou and C&D Development issued M&A bonds of RMB 1.29 billion and RMB 1 billion respectively. At the same time, Shanghai Pudong Development Bank also successfully issued the first M&A subject bond, which was mainly used for the issuance of M&A loans.

Analysts believe that M&A financing may become a new financing channel for high-quality real estate companies.

　　In addition, many overseas debts were rolled over.

Chen Xing said that in January, the exchange offers of 5 real estate companies were approved, and the bonds were successfully extended before the maturity date, avoiding the risk of default. It is believed that it can relieve liquidity pressure in a certain period of time in the future.

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