The effect of 200 billion special loans to accelerate the implementation of "guarantee building" is gradually showing
Since the second half of the year, the ministries and commissions have issued about 20 policies related to "guaranteed handover buildings", and nearly 40 provinces and cities have introduced "guaranteed handover buildings" measures, but efforts by all parties are still needed to advance
On November 21, Yi Gang, Governor of the People's Bank of China, said in a speech at the 2022 Financial Street Forum Annual Conference that in response to the risk exposure of some real estate companies in the early stage that led to overdue delivery of houses, we have introduced a special loan of 200 billion yuan for "guaranteed delivery of buildings". Support the construction and delivery of sold housing, and study the establishment of structural policy tools to encourage commercial banks to support "guaranteed housing".
When interpreting the completed housing area of my country's real estate development companies from January to October released by the National Bureau of Statistics on November 15, Fu Linghui, spokesperson of the National Bureau of Statistics and director of the National Economic Comprehensive Statistics Department, said: "From the perspective of Baojiao Building From the perspective of the situation, the investment in real estate development projects that have a construction period of more than two years and are about to enter the delivery stage across the country has maintained rapid growth, and the decline in the area of completed housing has narrowed." "Since this year, facing the downward adjustment of the real estate market, some early-stage blind The capital chain of the expanding real estate enterprises is relatively tight, and the problem of housing delivery is difficult in some places. All regions and departments have stepped up efforts to guarantee the delivery of buildings to promote the stable development of the real estate market, and the effect has gradually emerged.”
In fact, from July 28 to the present, it has been nearly four months since the Political Bureau of the CPC Central Committee first mentioned "guaranteeing housing and stabilizing people's livelihood". The work of "guaranteed delivery of buildings" has achieved phased results.
Remarkable results have been achieved in the work of "guaranteed delivery of buildings" in many places
According to the statistics of the Middle Finger Research Institute, in the second half of this year, various national ministries and commissions issued about 20 related policies on "guaranteed handover buildings", and the work of "guaranteed handover buildings" in many places has also achieved remarkable results.
On October 31, Henan's first "guaranteed delivery building" project - Longwan Shengjing in Yiyang City, Luoyang City successfully completed the first batch of delivery.
This time, the first batch of 3 residential buildings with 177 sets of residential buildings was delivered on the same day, and realized the "certificate upon delivery", becoming the first project to be delivered for use and the first project to apply for a certificate upon delivery in the "Guaranteed Building" project in Henan Province.
Not only in Henan, but at the beginning of November, the first batch of 636 houses in the first phase of Aoyuan·Yujingwan Community in Changde City, Hunan Province were delivered. The first real estate project to be officially handed over.
From September 7th to October 6th, Zhengzhou, the capital of Henan Province, launched a special action to guarantee the delivery of buildings for 30 days to ensure the full resumption of work of the suspended buildings in the city.
On October 6, Zhengzhou announced the important phased results of the special action: 147 of the 147 commercial housing projects that have been sold and suspended or partially suspended in Zhengzhou have achieved full and substantial resumption of work, and 2 projects that have not resumed work are expected to be completed by the end of November. Restoration is possible.
On September 28, according to local media reports, Nanning, Guangxi issued the "Nanning Real Estate Stabilization Fund Establishment Plan" on August 5. As of August 15, the Nanning Real Estate Stabilization Fund was officially launched.
The Stable Fund actively connects with the Blu-ray Yongjinglanwan project, Evergrande series projects, and Datang series projects, and strives to complete the actual investment and normal operation of the Blu-ray project before the end of September, form an investment plan for the Evergrande project, and strive to form a demonstration project as soon as possible.
On October 27, a reporter from the Beijing News learned that after about 28 real estate projects in Harbin received the special funds for "guaranteed delivery buildings", many projects have achieved substantial resumption of work.
At present, including Huahong Golden New York project supported by special funds, Harbin Baoneng City, and 4 projects under Sunac (Sunac Park No. 1, Sunac Four Seasons Impression, Sunac Cultural Tourism City, Sunac Ice and Snow Movie Metropolis) All resumed work.
In the process of "guaranteed delivery of buildings", as the "national team" of risk management, asset management companies have become an important force in the process of guaranteed delivery of buildings in various places.
Take China Cinda, the country’s four major asset management companies, as an example. According to its disclosure, as of the end of August this year, China Cinda has implemented 20 real estate risk resolution projects, with an investment of 10.285 billion yuan, ensuring the on-time delivery of 12,335 sets of commercial housing, driving 32.629 billion Yuan project resumed work and production.
The implementation of special loans helps promote the "guaranteed delivery of buildings"
Most of the sold overdue properties involved in the "Guaranteed Delivery Building" are caused by the lack of funds of the developers. Therefore, the key to promoting the work of Guaranteed Delivery Buildings lies in the support of funds.
On August 29, under the guidance of the central bank, policy banks such as the China Development Bank and the Agricultural Development Bank of China launched special loans for "guaranteed delivery buildings" with a scale of 200 billion yuan. The construction and delivery of residential projects that have been sold and overdue and difficult to deliver have been accelerated.
On September 22, the first tranche of funds from the National Baojiao Building Special Loan landed in Shenyang to support the Liaoning Baojiao Building project.
Subsequently, the implementation of special loans for Baojiao Building has accelerated, and it has already been implemented in Zhengzhou, Luoyang, Kaifeng, Shenyang, Harbin and other cities.
On the basis of special loans for national guaranteed housing delivery, many provinces and cities have set up rescue funds for stabilizing the housing market in light of local conditions.
For example: Zhengzhou established a rescue fund of 10 billion yuan, Hubei Provincial Asset Management Co., Ltd. and Zheshang Asset Management Co., Ltd. jointly established a rescue fund of 5 billion yuan, Nanning City established a stable real estate fund with a first-phase scale of 3 billion yuan, and Shaoxing City also established a Security Fund, etc.
Taking the "Nanning Model" as an example, Nanning City established a real estate private equity investment fund with the theme of stable real estate, explored a model managed by a professional team, and determined Jiangsu Yanrui Industrial Investment Fund Management Co., Ltd. Fund manager, and introduced a number of investors, including Nanning Railway Real Estate Group, Communication Investment Group, and Weining Real Estate Company; when making decisions, it established a stable fund investment decision-making committee to review specific project investment plans.
On the basis of the "National Team" and "Provincial and Municipal Funds", on November 11, the Central Bank and the China Banking and Insurance Regulatory Commission jointly issued the "Notice on Doing a Good Job in the Current Financial Support for the Stable and Healthy Development of the Real Estate Market" and proposed that in supporting the development of credit policy In addition to providing special loans for "guaranteed delivery of buildings", banks encourage financial institutions to provide supporting financing support to promote the resolution of individual housing loan risks for unpaid buildings.
As a result, in terms of the source of funds for Baojiao Building, a joint force of "national team + market force" has been formed.
After the funds for the "Baojiao Building" came into place one after another, various localities formed the working mode of "Baojiao Building" according to local characteristics.
According to the monitoring data of the Middle Finger Research Institute, since July, nearly 40 provinces and cities have introduced "guaranteed housing" measures, including "one-on-one policy" and "one-to-one assistance" for problematic projects. "Hanging up the bottom line", coordinating the introduction of regional state-owned enterprises and financial institutions to revitalize the project, etc.
Regarding the progress of the current "guaranteed handover buildings", Li Yujia, chief researcher of the Housing Policy Research Center of the Guangdong Provincial Urban Planning Institute, analyzed: "Recently, the policy of the country and various regions has intensified and achieved positive results. With special loans, The bailout fund is actively implemented, the financing environment of real estate companies has improved, and the completion and delivery of sold houses has accelerated, which has positive significance for the industry's demand side and residents' expectations."
At the same time, it should also be pointed out that although the work of "guaranteed handover buildings" has made staged progress, the work of "guaranteed handover buildings" cannot be accomplished overnight, and local governments still need to intensify their efforts to ensure the goal The smooth realization of the goal guarantees the vital interests of the people.
"Guaranteed Delivery Building" Policy Timeline
July 14th, July 17th
The China Banking and Insurance Regulatory Commission mentioned "guaranteed delivery buildings" twice. It said that it will guide financial institutions to participate in risk disposal in a market-oriented manner, strengthen work coordination with housing and construction departments and the People's Bank of China, and support local governments to actively promote "guarantee delivery buildings, people's livelihood, and Stability" work.
July 28
The meeting of the Political Bureau of the Central Committee proposed that the responsibility of local governments should be consolidated to ensure the delivery of buildings and stabilize people's livelihood. This is the first time that the meeting of the Political Bureau of the Central Committee mentioned "guarantee delivery buildings" and brought "guarantee delivery buildings" to the national level.
August 31
The executive meeting of the State Council proposed that the local government should make good use of the policy toolbox of "one city, one policy", and flexibly use phased credit policies and special loans for guaranteed delivery buildings.
October 24
The Central Bank and the State Administration of Foreign Exchange stated that they will strengthen interdepartmental collaboration to maintain the healthy development of the stock market, bond market, and property market, better meet the rigid and improved housing needs of residents, and increase efforts to promote the work of "guaranteeing housing delivery and stabilizing people's livelihood".
November 11
The central bank and the China Banking and Insurance Regulatory Commission issued a notice stating that, in addition to supporting the development of credit policy banks to provide special loans for "guaranteed housing", financial institutions are encouraged to provide supporting financing support to promote the resolution of individual housing loan risks for undelivered housing.
November 16
The central bank and the China Banking and Insurance Regulatory Commission issued a notice stating that they will accelerate the use of special loans for guaranteed delivery buildings and appropriately increase efforts as needed, guide commercial banks to provide supporting financing support, protect the legitimate rights and interests of housing consumers, and promote the stable and healthy development of the real estate market.
The timeline of the special loan for "guaranteed housing" in many places and the implementation of the bailout fund
August 8
Zhengzhou set up a special fund of 10 billion yuan for real estate relief.
August 21
Nanning plans to set up a stable real estate fund with an initial scale of 3 billion yuan.
August 25
Hubei Provincial Asset Management Co., Ltd. and Zheshang Asset Management Co., Ltd. jointly established a rescue fund of 5 billion yuan.
September 22
The China Development Bank paid Shenyang the first special loan for "guaranteed delivery buildings" in the country (the amount has not yet been disclosed).
September 28
A number of real estate projects in Harbin City that applied for special loans for "guaranteed buildings" were approved, and the funds for "guaranteed buildings" were successively in place.
Written by this edition/Beijing News reporter Xu Qian