China News Service, Beijing, March 7 (Reporter Liu Liang) Yi Gang, deputy director of the Economic Committee of the National Committee of the Chinese People's Political Consultative Conference and former governor of the People's Bank of China, said in Beijing on the 7th that it is recommended to establish a real estate pre-sale fund insurance mechanism to allow real estate companies to comply with laws and regulations. Use a certain proportion of pre-sale supervision account funds.
The second plenary session of the second session of the 14th National Committee of the Chinese People's Political Consultative Conference was held on the same day.
In his speech at the conference, Yi Gang said that it is necessary to strengthen the coordination and cooperation between financial policies and fiscal and other policies, and to take targeted measures in some key links of economic operation.
On March 7, the second session of the 14th National Committee of the Chinese People's Political Consultative Conference held its second plenary session at the Great Hall of the People in Beijing.
The picture shows member Yi Gang delivering a speech at the conference.
Photo by China News Service reporter Sheng Jiapeng
Talking about the real estate field, he said that the current policy focus is first to consolidate the main responsibilities of real estate enterprises and give play to the decisive role of the market in allocating resources, and then to consolidate the responsibilities of local governments and better play the role of the government.
It is necessary to focus on supporting the continued and stable operation of most real estate companies, especially leading private real estate companies, focusing on solving their liquidity difficulties, and supporting real estate companies to build buildings well and deliver them to buyers with high quality and on time.
Yi Gang suggested that a real estate pre-sale fund insurance mechanism be established. The central government or the People's Bank of China would withdraw a pre-sale insurance fund at 1% of the balance of pre-sale regulatory funds every year (estimated to be about 10 billion yuan per year). First, consider a three-year period. Limited (2024-2026), a total of about 30 billion yuan of pre-sale insurance funds will be withdrawn; real estate enterprises are allowed to use a certain proportion of pre-sale regulatory account funds in accordance with the company's governance structure and in compliance with laws and regulations. It is estimated that there will be about 1 trillion yuan of funds. It can be used immediately by the real estate company; if the real estate company has unfinished buildings in the future, the pre-sale insurance fund will pay in advance up to the limit of the funds used by the real estate company.
In his view, this pre-sale fund insurance mechanism can achieve the role of leveraging funds, help real estate companies tide over difficulties to a certain extent, and strive to transition to existing home sales in three years.
At the same time, special audits will be carried out on the use of pre-sale funds by real estate companies to ensure that pre-sale funds are used in accordance with laws and regulations.
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