Recently, many cities have successively released the first batch of "white lists" for real estate project financing. Various cities have expressed their opinions intensively, and the banking industry is also rapidly following up. All of these indicate that the newly announced real estate financing coordination mechanism is operating rapidly.
Prior to this, on January 12, the Ministry of Housing and Urban-Rural Development and the State Administration of Financial Supervision jointly issued a notice requiring cities at all levels and above to establish an urban real estate financing coordination mechanism, timely study and judge the local real estate market situation and real estate financing needs, and coordinate to solve real estate financing problems. existing difficulties and problems.
"White list" of real estate projects in multiple cities released
On January 30, Nanning, Guangxi, was the first to state that it had established a real estate financing coordination mechanism and pushed the first batch of 107 real estate project "whitelists" to local financial institutions.
On January 31, the WeChat official account of the Chongqing Housing and Urban-Rural Development Bureau announced that it had pushed the first batch of real estate project "whitelists" to financial institutions, including 314 projects with financing needs of approximately 83 billion yuan. On the same day, Kunming announced that it had sorted out the first batch of 212 "whitelists" of real estate projects with a financing demand of approximately 91.6 billion yuan, and provided assistance to 28 major banks in Kunming, including policy banks, large commercial banks, joint-stock commercial banks, and city commercial banks. push. It is convenient for banks to follow the principles of marketization and rule of law and provide as much support as possible based on comprehensive assessment and regulations. The Chongqing Supervision Bureau of the State Administration of Financial Supervision and Administration stated that the financing coordination mechanism will implement dynamic management of the "white list", and in the future, eligible projects will be added, and unqualified projects will also be eliminated.
On January 31, Chengdu also posted on its official Weibo that the first batch of project financing applications had been reviewed for the first batch of lists, including a total of 227 projects from 208 project companies. Qingdao announced that through the real estate financing coordination mechanism, it has sorted out the first batch of 84 real estate project "white lists" with financing needs of approximately 25.02 billion yuan and involving 19 financing institutions.
In Harbin, the "white list" of the first batch of financing support projects for real estate companies announced on January 31 includes 19 projects, involving financing needs of more than 2.7 billion yuan.
In Xi'an, information disclosed on January 31 showed that the local government has sent the first batch of 54 project lists to the Shaanxi Supervision Bureau of the State Administration of Financial Supervision and financial institutions, with financing needs of approximately 17.984 billion yuan.
On February 1, reporters learned from the Wuhan Municipal Housing Security and Housing Administration that Wuhan has determined the first batch of real estate project financing "white lists", involving 101 real estate projects, 94 development companies, and 18 financing institutions. The Hubei Housing and Urban-Rural Development Department stated on the same day that the first batch of 221 real estate projects in Hubei Province have been reviewed by the urban real estate financing coordination mechanism and have been pushed to various financial institutions, involving 16 cities and states, with a financing demand of 71.2 billion yuan.
The reporter learned that Jiangxi is currently further refining the implementation methods and implementation details of the coordination mechanism, and steadily promoting the establishment of department consultation platforms and government-bank-enterprise cooperation platforms; Guangzhou is building a government-bank-enterprise communication platform to promote real estate development enterprises and Accurate docking of financial institutions; relevant alliance cities in Inner Mongolia are pushing the first batch of project lists and preparing the second batch of project lists...
What role can a “whitelist” play?
Previously, the relevant person in charge of the Ministry of Housing and Urban-Rural Development said that the current tight cash flow of real estate companies is mainly due to two reasons, one is market demand and the other is corporate financing. To this end, a key goal of the real estate financing coordination mechanism introduced not long ago is to solve the financing problem.
Therefore, this "white list" is simply understood to be a list of real estate projects under construction as financing support objects. It is important to note that the objects in this list are projects rather than companies. Pu Zhan, deputy director of the Policy Research Center of the Ministry of Housing and Urban-Rural Development, said that doing so can meet the reasonable financing needs of project development and construction, and can turn the excessive risk aversion of financial institutions into a virtuous cycle of finance and real estate, thus promoting the normal development, construction and delivery of real estate projects. This will help restore market confidence and improve market expectations.
Of course, not all projects can be on this list. Each locality has clear and strict requirements for which projects can be included in the "list":
Real estate development projects must be under construction, including projects that are temporarily suspended but can be resumed immediately after funds are received, and can be completed and delivered;
Real estate development projects have collateral or mortgage guarantees that basically match the financing amount;
The real estate development project has identified the sponsoring bank for the loan and accepts closed management of loan funds;
The pre-sale funds of the real estate development project have not been diverted, or the diverted funds have been recovered in a timely manner;
The real estate development project has initially formulated a plan for the use of loan funds and a completion plan.
It should be noted that entering the "whitelist" does not mean that this real estate project can obtain financing from financial institutions. The "whitelist" is just a push list, and the final decision lies with financial institutions.
Banks strongly support the implementation of “whitelist”
Recently, various banking financial institutions have also taken quick action. The real estate development loans of many banks have increased month by month, and the reasonable financing needs of more and more real estate companies have been met.
In Chongqing, the Chongqing Branch of the Agricultural Bank of China has approved the first local real estate whitelist project, with a newly approved loan of 320 million yuan. It is expected that the first 54.5 million yuan of funds will be put in place early next week, mainly for enterprises to pay wages and Project money. According to reports, due to the activation of the green channel for real estate financing, the loan approval took only 6 working days, while similar projects in the past generally took 20-30 working days to complete. At present, the Agricultural Bank of China Chongqing Branch is still docking with eight other projects in the "white list" of real estate projects.
In Nanning, Guangxi, Minsheng Bank Nanning Branch has issued the first loan in the "white list" of local real estate projects, involving 330 million yuan.
Tian Jianming, deputy general manager of the Corporate Business Department of China Construction Bank, said that they have exchanged information with six real estate companies to enhance mutual trust. Not long ago, the China Construction Bank Head Office sent six teams to 12 provinces and cities to conduct research. Preliminary research shows that many of the current main problems of real estate companies are liquidity problems. Therefore, on the basis of steadily increasing real estate credit last year, China Construction Bank has further accelerated its response to reasonable financing needs.
In addition, many banks, including Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, and China Zheshang Bank, have held multiple bank-enterprise symposiums to support the reasonable financing needs of real estate companies since December last year, and subsequently increased financial support.
Many banks will establish green approval channels for real estate loans
According to the reporter's understanding, many banks have now established special teams to work on the urban real estate financing coordination mechanism to further increase the financial guarantee for the reasonable financing needs of real estate enterprises. At the same time, we will speed up the establishment of a green channel for loan approval for real estate companies and shorten the approval time.
The Industrial and Commercial Bank of China stated that it will further strengthen precise docking with various real estate companies, improve the green approval channel within the bank, optimize the approval process, and shorten the approval time limit. Increase financing support for projects in the list and meet the reasonable financing needs of all types of ownership real estate enterprises without discrimination. According to reports, since November 2023, the amount of development loans provided by ICBC to non-state-owned real estate enterprises has increased month by month. As of the end of 2023, the balance of real estate development loans of ICBC exceeded one trillion yuan, achieving an increase year-on-year.
For the support projects promoted by the coordination mechanism, China Construction Bank stated that it will start the business process as soon as possible, provide financing services as soon as possible, and complete the completion and delivery as soon as possible; for projects that are temporarily difficult but the funds can basically balance, the loan will be extended if it should be extended, and if it should be increased, the loan will be extended. Stabilize the capital chain, stabilize construction progress, and stabilize market confidence.
Many banks also stated that in the future, they will better support the demand for rigid and improved housing, and increase financial support for the construction of the "three major projects" of affordable housing, urban village renovation, and "both leisure and emergency" public infrastructure construction. intensity.
The financial regulatory authorities stated that for real estate financing “white list” projects, they will adhere to the principle of closed financing operations. The development company and the banking financial institution reached an agreement through voluntary negotiation to ensure that the loan funds are managed in a closed manner and used in compliance with regulations, and all are used for the construction of the project to prevent the funds from being misappropriated for investments and expenditures unrelated to the project.
(CCTV News Client CCTV reporter Yang Xiao and Wang Lei)