On the 20th, the Ministry of Housing and Urban-Rural Development stated that since the deployment of the urban real estate financing coordination mechanism in January, various localities and relevant financial institutions have been working intensively to implement it. Many cities are still advancing work during the Spring Festival holiday, and the implementation of the coordination mechanism has continued to make new progress.
As of February 20, 214 cities in 29 provinces across the country have established a real estate financing coordination mechanism, proposing in batches a "white list" of real estate projects that can provide financing support and pushing it to commercial banks, involving a total of 5,349 projects; 57 have been 162 projects in the city have received bank financing totaling 29.43 billion yuan, an increase of 11.3 billion yuan compared with before the Spring Festival holiday. According to relevant data from the Bank of China, China Construction Bank, Agricultural Bank of China, Postal Savings Bank of China and some joint-stock banks, 123.6 billion yuan of loans have been approved for "white list" projects, and loans are being issued one after another according to the needs of the project construction progress.
In the next step, in accordance with the requirements of the Ministry of Housing and Urban-Rural Development, all localities must attach great importance to the work related to the urban real estate financing coordination mechanism, accurately propose a "white list" of real estate projects, and promote the coordination mechanism to continue to achieve effective results. At the same time, various localities must form "two closed loops" when carrying out work. The first is to form a closed work loop of “push-feedback”. The urban real estate financing coordination mechanism screens projects based on conditions and pushes them to commercial banks. Each commercial bank will grant loans after review in accordance with regulations. For projects that are not allowed to lend, they will report the "reasons for not being able to lend" to the financial supervision department, and the city government will coordinate and resolve them in a timely manner. Form a closed loop of work from push to feedback for "whitelist" projects. The second is to form a closed management loop of "issuance - use - repayment" to ensure that all funds are used for project development and construction, and to prevent funds from being misappropriated for land purchase, debt repayment or other investments. (CCTV reporter Yang Xiao)