China News Service, November 23rd, on the 23rd, the website of the central bank issued the "Notice of the People's Bank of China and the China Banking and Insurance Regulatory Commission on Doing a Good Job of Financial Support for the Steady and Healthy Development of the Real Estate Market".
The notice proposes to actively cooperate with the risk management of troubled real estate enterprises.
Provide financial support for mergers and acquisitions of real estate projects.
Encourage commercial banks to carry out real estate project merger and acquisition loan business in a stable and orderly manner, and focus on supporting high-quality real estate enterprises to merge and acquire distressed real estate enterprise projects.
Encourage financial asset management companies and local asset management companies (hereinafter collectively referred to as asset management companies) to use their experience and capabilities in non-performing asset disposal and risk management, and negotiate risk resolution models with local governments, commercial banks, and real estate companies to promote accelerated asset disposal.
Encourage asset management companies to cooperate with third-party institutions such as law firms and accounting firms to improve the efficiency of asset disposal.
Support qualified commercial banks and financial asset management companies to issue real estate project mergers and acquisitions themed financial bonds.
Actively explore market-oriented support methods.
For some projects that have entered judicial reorganization, financial institutions can assist in promoting project resumption and delivery in accordance with the principles of independent decision-making, self-assuming of risks, and self-responsibility for profits and losses.
Encourage asset management companies to participate in project disposal by serving as bankruptcy administrators and restructuring investors.
Support qualified financial institutions to prudently explore through the establishment of funds and other methods to resolve the risks of troubled real estate enterprises in accordance with laws and regulations, and support the completion and delivery of projects.
(China New Finance and Economics)