China News Agency, Beijing, November 28 (Reporter Chen Kangliang) Regarding the policy measures to support equity financing of real estate companies, the spokesperson of the China Securities Regulatory Commission stated on the 28th that the China Securities Regulatory Commission actively plays the role of the capital market and supports the implementation of improvements in quality financing. The balance sheet plan of real estate companies will increase the strength of equity supplementation, promote the revitalization of the real estate market, prevent risks, and transform and develop, so as to better serve and stabilize the macroeconomic market.
The China Securities Regulatory Commission decided to adjust and optimize 5 measures in terms of equity financing, and they will be implemented from now on.
The first is to resume mergers and acquisitions and supporting financing of real estate-related listed companies.
Qualified real estate companies are allowed to implement reorganization and listing, and the reorganization objects must be listed companies in the real estate industry.
Listed companies in the real estate industry are allowed to issue shares or pay cash to purchase property-related assets; when issuing shares to purchase assets, they can raise supporting funds; the funds raised are used for existing property-related projects, payment of transaction consideration, supplementary working capital, repayment of debts, etc., and cannot be used for Take land and shoot land, develop new real estate, etc.
Listed companies in industries closely related to real estate, such as construction, implement the policies of listed companies in the real estate industry, and support the integration of "same industry, upstream and downstream".
The second is to resume refinancing of listed real estate companies and real estate-related listed companies.
Allow listed real estate companies to refinance in a non-public manner, and guide the raised funds to be used for policy-supported real estate businesses, including real estate projects related to "guaranteed housing delivery and people's livelihood", affordable housing, shantytown renovation or demolition and resettlement housing for old city renovation construction, as well as replenishment of working capital and repayment of debts in line with the requirements of listed companies' refinancing policies.
Allow other real estate-related listed companies to refinance, and require the funds raised from refinancing to invest in their main business.
The third is to adjust and improve the listing policy of real estate enterprises in overseas markets.
Consistent with the domestic A-share policy, resume refinancing of H-share listed companies with real estate as their main business; resume refinancing of other real estate-related H-share listed companies with non-real estate business.
The fourth is to further play the role of REITs (real estate investment trust funds) to revitalize the stock assets of real estate companies.
Work with relevant parties to increase efforts to promote the regular issuance of affordable rental housing REITs, and strive to create a "guaranteed rental housing sector" in the REITs market.
Encourage high-quality real estate companies to issue infrastructure REITs relying on qualified warehousing and logistics, industrial parks and other assets, or use them as expansion assets of listed infrastructure REITs.
Fifth, actively play the role of private equity investment funds.
Carry out the pilot project of real estate private equity investment funds, allow qualified private equity fund managers to set up real estate private equity investment funds, introduce institutional funds, invest in stock residential real estate, commercial real estate, and infrastructure, and promote real estate companies to revitalize operational real estate and explore new development models .