China-Singapore Finance, March 2. On March 2, the State Council Information Office held a press conference on promoting a virtuous circle of economic and financial development and high-quality development.
Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, reviewed his experience in buying a house at the meeting: more than 20 years ago, personal housing loans were actually very inconvenient.
I have personal experience. At that time, when I was the director of the foreign exchange bureau, I applied for a housing provident fund loan, and it took half a year for the application to be issued.
"But then real estate financial services improved very quickly. Now there are a lot of mortgage loans, and the proportion of large bank loans is very high. We repeatedly remind them to pay attention to risks, because many people buy house loans for investment and speculation. A drop, or something else goes wrong, is a huge financial crisis.”
Guo Shuqing said that last year, housing prices fell, and the problems of real estate bubbles and monetization have fundamentally reversed. The real estate market is not as active as before, but housing is still needed, especially rental housing, and decoration is still needed. Aspects of financial services make sense.
In his view, some adjustments in real estate prices and some changes in the demand-side structure are a good thing for the financial industry. "But we don't want the adjustment to be too drastic and have too much impact on the economy, so it should be stable. Convert." (End)