China News Service, January 25. The State Council Information Office held a press conference on the 25th on financial services for high-quality economic and social development.
At the meeting, Xiao Yuanqi, deputy director of the State Administration of Financial Supervision and Administration, said that the State Administration of Financial Supervision should continue to provide financial services for personal housing loans.
Support local city governments and housing construction departments to implement city-specific policies to further optimize personal housing loan policies such as down payment ratios and loan interest rates, and guide and urge banks to better serve the people's financing needs for rigid and improved housing.
At the meeting, a reporter asked: The Central Economic Work Conference proposed to actively and steadily resolve real estate risks and meet the reasonable financing needs of real estate companies with different ownerships without discrimination.
Please tell me, in the field of real estate finance, what arrangements does the State Administration of Financial Supervision currently have?
What other measures will be taken next?
Xiao Yuanqi said that in recent times, we have actively cooperated with industry authorities and local governments to implement comprehensive policies from both ends of the real estate market supply and demand, and continue to increase financial support.
The Ministry of Housing and Urban-Rural Development, the People's Bank of China, and the State Administration of Financial Supervision have clarified the housing credit policy of "recognizing a house but not a loan".
The People's Bank of China and the State Administration of Financial Supervision issued the "16 Financial Support Measures" to support the stable and healthy development of the real estate market, and studied and established a dynamic adjustment mechanism for the first-home loan interest rate policy, lowered the lower limit of the second-home loan interest rate policy, and guided banks to reduce the existing first-home loan interest rate policy. Suite loan rates.
These policies and measures have played and are playing a positive role in providing real estate financial services, stabilizing the reasonable financing needs of the real estate market, and promoting the stable and healthy development of real estate.
In January this year, the Ministry of Housing and Urban-Rural Development and the State Administration of Financial Supervision jointly issued the "Notice on Establishing an Urban Real Estate Financing Coordination Mechanism", requiring cities at all levels and above to establish a real estate financing coordination mechanism, build a government-bank-enterprise communication platform, and promote real estate enterprises and Accurate connection with financial institutions.
Xiao Yuanqi said that we all know that the real estate industry chain is long and involves a wide range of areas. It has an important impact on the national economy and is closely related to the lives of the broad masses of the people. The financial industry has an unshirkable responsibility and must provide strong support.
At present, banks mainly have the following channels for real estate financing: First, development loans to real estate companies and personal housing loans (mortgage loans).
As of now, the balances of development loans and personal housing loans are 12.3 trillion yuan and 38.3 trillion yuan respectively. In 2023, development loans of 3 trillion yuan and housing mortgage loans of 6.4 trillion yuan have been issued respectively. The total amount is nearly 10 trillion yuan, which is still very large.
The second is banks’ investment in bonds from real estate companies. At the end of last year, the balance of bonds purchased by banks from real estate companies was 427.5 billion yuan. The amount of bonds issued by banks’ investments in real estate companies is also relatively large, with an increase of 15% in 2023 compared with 2022.
In addition, banks will also provide M&A loans and existing extension loans to real estate companies in 2023, which together exceed 1 trillion yuan.
Xiao Yuanqi said that in terms of ensuring the delivery of buildings, we actively cooperate with the Ministry of Housing and Urban-Rural Development and the People's Bank of China to provide financial support.
As of the end of 2023, most of the 350 billion yuan in special loans for "Guaranteed Delivery of Buildings" have been invested in projects, and commercial banks have also provided corresponding commercial supporting financing to ensure the completion of the task of "Guaranteed Delivery of Buildings."
Xiao Yuanqi said that the State Administration of Financial Supervision will guide financial institutions to make full use of existing financial support policies, continue to provide real estate financial services, maintain the overall stability of real estate credit, meet reasonable financing needs, and contribute to maintaining the stable and healthy development of the real estate market. Leveraging the power of finance.
In the near future, we will also focus on the following major tasks:
First, accelerate the implementation of the urban real estate financing coordination mechanism to achieve results.
Under the coordination mechanism led by the city government and in accordance with the principle of fairness and equity, a list of real estate projects that can provide financing support will be pushed to financial institutions within the administrative region.
This has been made clear in the notice we jointly issued with the Ministry of Housing and Urban-Rural Development.
Financial institutions shall evaluate the support objects recommended by the coordination mechanism in accordance with the principles of marketization and rule of law. For projects with normal development and construction, sufficient collateral, reasonable assets and liabilities, and guaranteed repayment sources, they must actively meet reasonable financing needs; for projects that are temporarily encountered in development and construction For projects that are in difficulty but whose funds can be balanced, we should not blindly withdraw loans, suppress loans, or cut off loans. We should provide greater support through extending existing loans, adjusting repayment arrangements, and adding new loans.
In the near future, we will also hold a relevant work deployment meeting and require banks to take action as soon as possible. Under the leadership and coordination of the urban people's government, together with the housing and construction departments, we will make good use of the policy toolbox according to city policies to more accurately support the reasonable financing needs of real estate projects.
The second is to guide financial institutions to implement the management requirements for operating property loans.
Last night, we and the People's Bank of China jointly issued the "Notice on Proper Management of Commercial Property Loans".
This notice allows banks to issue operating property loans. For real estate development companies with standardized operations and good development prospects, national banks will issue operating property loans to these real estate companies on the basis of controllable risks and commercial sustainability. By the end of this year Previously, it could be used to repay existing loans of real estate companies and open market bonds issued by them.
The third is to continue to provide personal housing loan financial services.
Support local city governments and housing construction departments to implement city-specific policies to further optimize personal housing loan policies such as down payment ratios and loan interest rates, and guide and urge banks to better serve the people's financing needs for rigid and improved housing.
The fourth is to guide and require banks and other financial institutions to vigorously support the construction of the "three major projects" such as major infrastructure for "both leisure and emergency use" and urban village reconstruction, and require the physical workload to be formed as soon as possible.