It's another blockbuster good: 300 billion! The central bank, the Ministry of Housing and Urban-Rural Development, and the State Administration of Financial Supervision have stated that the amount of information is →

On May 17, real estate continued to be positive.

In the morning, a video conference was held on the work of ensuring the delivery of housing across the country. At noon, the central bank and the State Administration of Financial Supervision issued three notices in succession, including a series of policies such as reducing down payments, canceling the lower limit of interest rates, and reducing the interest rate of provident fund loans.

In the afternoon, the State Council held a regular policy briefing, at which responsible persons of the Ministry of Housing and Urban-Rural Development, the Ministry of Natural Resources, the People's Bank of China, and the State Administration of Financial Supervision briefed on the relevant situation of supporting policies for ensuring the delivery of housing and answered reporters' questions.

The People's Bank of China announced that it intends to set up affordable housing refinancing. The scale of the reloan is 300 billion yuan, the interest rate is 1.75%, the term is 1 year, and the term can be extended 4 times. The recipients include 21 national banks, including the China Development Bank, policy banks, state-owned commercial banks, postal savings banks, and joint-stock commercial banks. In accordance with the principle of independent decision-making and assumption of risk, banks issue loans to local state-owned enterprises selected by the city government to purchase completed and unsold commercial houses for use as affordable housing. The People's Bank of China will issue reloans according to 60% of the loan principal, which can drive bank loans of 500 billion yuan.

Central Bank: 300 billion yuan of affordable housing re-lending will be set up

Tao Ling, deputy governor of the People's Bank of China, said at the press conference that the recent meeting of the Political Bureau of the Central Committee proposed to study the policy measures to digest the stock of real estate and optimize the incremental housing, which is a major decision and deployment made by the central government in combination with the new changes in the supply and demand relationship of the real estate market and the new expectations of the people for high-quality housing.

Tao Ling said that the central bank will set up a 300 billion yuan affordable housing reloan. Encourage and guide financial institutions to follow the principles of marketization and rule of law to support local state-owned enterprises to purchase completed and unsold commercial housing at a reasonable price for placement or rental affordable housing, which is expected to drive bank loans of 500 billion yuan.

Specifically, Tao Ling said that the main points of this policy are as follows:

First, the scale of refinancing for affordable housing is 300 billion yuan, with an interest rate of 1.75%, a term of one year, and a period of four extensions, which includes 21 national banks such as the China Development Bank, policy banks, state-owned commercial banks, postal savings banks, and joint-stock commercial banks. Banks issue loans in accordance with the principle of independent decision-making and assumption of risk. The People's Bank of China (PBoC) will issue re-loans at 60% of the loan principal, which can drive bank loans of 500 billion yuan.

Second, the acquired commercial housing is strictly limited to the commercial housing that has been completed and unsold by the real estate enterprise, and the real estate enterprises under different ownership systems are treated equally. In accordance with the principle that affordable housing is used to meet the rigid housing needs of wage and salary income groups, the house type and area standards of the purchased commercial housing should be strictly grasped.

Third, the city government selects local state-owned enterprises as the acquisition entity. The state-owned enterprise and its affiliated group shall not be involved in the hidden debts of the local government, shall not be a local government financing platform, and shall have bank credit requirements and credit space, and shall be promptly placed or leased after acquisition.

Fourth, voluntary participation. The city government decides whether to participate or not based on factors such as local demand for affordable housing and the inventory level of commercial housing. Wage earners who meet the conditions for protection can choose whether to participate in the placement or leasing at their own discretion. The real estate enterprise negotiates on an equal footing with the acquirer and decides whether to sell on its own. In accordance with the principles of risk-bearing and business sustainability, 21 banks made their own decisions on whether to issue loans to the acquirer.

Tao Ling said that this policy is an important measure introduced by the People's Bank of China to support the construction of a new model of real estate development, which is conducive to achieving multiple goals through a market-oriented approach. The first is to speed up the destocking of existing commercial housing. Local state-owned enterprises, with the support of banks, participate in the acquisition of completed and unsold commercial housing in a market-oriented manner, which can promote the destocking of the commercial housing market. The second is to speed up the supply of affordable housing. The acquired commercial housing is used as affordable housing for sale or rent, which can better meet the housing needs of wage and salary groups. The third is to help ensure the delivery of buildings and the "white list" mechanism. After the real estate enterprise sells the completed commercial housing, the returned funds can be used to continue the construction of the project under construction and improve the financial situation of the real estate enterprise.

Tao Ling also said that for the above policies, the People's Bank of China will issue an official document in the near future, namely the "Notice on Matters Concerning the Establishment of Affordable Housing Reloans".

Ministry of Housing and Urban-Rural Development: Let the people get the houses that have passed the acceptance as agreed in the contract

Dong Jianguo, Vice Minister of the Ministry of Housing and Urban-Rural Development, said that the focus of the work on ensuring the delivery of housing includes:

The first is to do a good job in the tough battle of ensuring the delivery of commercial housing projects. In accordance with the principles of marketization and rule of law, classify and dispose of commercial housing projects under construction that have been sold but not delivered, promote the construction and delivery of projects, and effectively protect the legitimate rights and interests of home buyers.

The second is to further play the role of the coordination mechanism of urban real estate financing to meet the reasonable financing needs of real estate projects. The city government should promote the projects that meet the conditions of the white list, and commercial banks should lend as much as possible to the projects that meet the requirements of the white list, so as to meet the reasonable financing needs of the projects under construction.

The third is to promote the digestion of the stock of commercial housing. The city government insists on ordering according to demand, and can organize local state-owned enterprises to purchase a part of the stock of commercial housing at a reasonable price to be used as affordable housing.

Fourth, properly dispose of the stock of land that has not yet been developed or has not been started, and the stock of land that has not yet been started and completed, through the government's recovery and acquisition, market circulation and transfer, and continued development of enterprises, properly dispose of and revitalize, promote real estate enterprises to alleviate difficulties and reduce debts, and promote the efficient use of land resources.

Dong Jianguo said that in the next step, the Ministry of Housing and Urban-Rural Development will work with relevant departments to conscientiously implement the spirit of the meeting of the Political Bureau of the Central Committee, in accordance with the deployment requirements of the State Council, do a good job in ensuring the delivery of housing, promote the timely delivery of projects, and effectively protect the legitimate rights and interests of buyers.

Dong Jianguo said that he will adhere to the people-centered development philosophy, take multiple measures at the same time, classify and dispose of it, do a good job in the tough battle of ensuring the delivery of commercial housing projects, promote the project to ensure the delivery of housing on time, and let the people get the houses that have passed the acceptance as agreed in the contract.

For those who are still unable to deliver the house after exhausting all means, they should take the judicial route and take the judicial route, and in the judicial disposal, it is also necessary to put the protection of the legitimate rights and interests of the buyer in the first place.

Ministry of Natural Resources: It is planned to introduce measures to properly dispose of idle land

Liu Guohong, Vice Minister of the Ministry of Natural Resources, introduced that the Ministry of Natural Resources has conscientiously implemented the decisions and arrangements of the Party Central Committee and the State Council, and in accordance with the requirements of ensuring the delivery of housing, on the basis of extensive research, it is ready to introduce policies and measures to properly dispose of idle land and revitalize the stock of land, and support local governments to proceed from reality and properly dispose of the idle stock of residential land that has been transferred by means of recovery and acquisition as appropriate, so as to help enterprises solve their difficulties. At the same time, it promotes the economical and intensive use of land, prevents and resolves risks, and helps the high-quality development of real estate.

Liu Guohong introduced that the policy mainly follows two lines: one line is to strictly dispose of idle land in accordance with the law, and the other line is to increase support for the revitalization and utilization of stock land. The specific policy highlights can be briefly summarized in the following three aspects:

The first is to support the optimization and development of enterprises. The main purpose is to eliminate obstacles to development and construction, reasonably exempt from liability for breach of contract caused by natural disasters and epidemics, and allow enterprises to reasonably adjust planning conditions and design requirements in accordance with procedures to better meet market demand.

The second is to promote market circulation and transfer. It is mainly to give full play to the role of the secondary market of land, support the transfer of advance registration and "transfer with mortgage", and encourage transfer or cooperative development.

The third is to support local governments to recover land at reasonable prices. The main purpose is to support local governments to recover idle land at a reasonable price in accordance with the principle of "purchasing according to demand" for the construction of affordable housing. Localities are allowed to adopt a parallel "repossession-supply" approach to simplify procedures, handle planning and land supply procedures, and better provide facilitation services.

In addition, in order to implement the main responsibilities of city and county governments and strengthen overall coordination, cities and counties are required to establish a coordinated decision-making mechanism for disposing of idle and revitalizing the stock of land, improve decision-making procedures, improve administrative efficiency, and keep the bottom line of policies.

State Administration of Financial Supervision: Establish and improve the coordination mechanism for urban real estate financing

Xiao Yuanqi, deputy director of the State Administration of Financial Supervision and Administration, said at the meeting that the "white list" of financing support is voluntarily declared by real estate project companies, and the districts and counties of the city where they are located are pre-examined and put forward the list. The urban coordination mechanism organizes screening and review, and those who meet the conditions and standards are included in the "white list", and those who do not meet the conditions and standards are to implement rectification, promote problem solving, and form a closed-loop management mechanism.

Xiao Yuanqi introduced that in January this year, the State Administration of Financial Supervision and Administration and the Ministry of Housing and Urban-Rural Development jointly issued the "Notice on the Establishment of an Urban Real Estate Financing Coordination Mechanism". In the near future, it is also necessary to issue the "Notice on Further Giving Play to the Role of the Urban Real Estate Financing Coordination Mechanism to Meet the Reasonable Financing Needs of Real Estate Projects", establish and improve the urban real estate financing coordination mechanism, deeply understand the people's nature and politics of real estate work, continue to adhere to the city-specific policies, take the city as the main body and the project as the center, fully support the financing and completion delivery of projects that should be continued, and do a good job in ensuring the delivery of housing to protect the legitimate rights and interests of buyers.

Xiao Yuanqi said that the financing coordination mechanism is headed by the main responsible comrades of the city government, the deputy mayor in charge of urban construction, housing and finance is the deputy leader, and the relevant departments and financial institutions are member units to set up a special working class to carry out centralized office. The city coordination mechanism is mainly to summarize the situation of real estate projects within its jurisdiction, review the "white list" projects in accordance with the conditions and standards, and urge the relevant parties to increase rectification efforts and effectively solve the corresponding problems to meet the conditions and standards of the "white list" projects. In addition, the city coordination mechanism should be responsible for optimizing the supervision process of pre-sale funds and reasonably confirming the amount of pre-sale supervision funds. At the same time, it is necessary to consolidate the responsibilities of real estate enterprises and real estate project companies.

Source: People's Bank of China website, Xinhua News Agency, Central Broadcasting Network, Securities Times, etc