Source: China Fund News, National Business Daily, Central Bank website, Xinhua News Agency, China News Finance
outburst
Real estate stocks collectively skyrocketed!
(Data source: Baidu Stock Exchange)
On the afternoon of May 17, with the assistance of the real estate and large financial sectors, the A-share market staged a major counteroffensive. As of the close, the Shanghai Composite Index closed at 3154.03 points, up 1.01%; The Shenzhen Component Index rose 1.1%, and the ChiNext Index rose 1.12%.
Wind All A rose by more than 1%, and the market turnover on the day was 889.973 billion yuan. In the market, 4,085 stocks closed in the red, 152 were flat, and 1,124 were green.
The real estate sector rose in a straight line in the afternoon, and Shenwan rose by more than 7%.
In terms of individual stocks, the special service has a 20CM daily limit, and there are as many as 27 stocks in the real estate sector.
Among the large-capitalization stocks, Poly Development and Vanke A, two giants of 100 billion yuan, both have daily limits; China Merchants Shekou approached the daily limit, closing up 9.3%.
In the bond market, as of press time, a number of Vanke bonds and CIFI bonds were among the top gainers, with "22 Vanke 07", "200 Vanke 08" and "22 Vanke 02" rising by more than 10%.
At noon on May 17, the official website of the central bank issued the Notice of the People's Bank of China on Reducing the Interest Rate of Personal Housing Provident Fund Loans, the Notice of the People's Bank of China on Adjusting the Interest Rate Policy of Commercial Personal Housing Loans, and the Notice of the People's Bank of China and the State Financial Supervision and Administration Administration on Adjusting the Policy of Minimum Down Payment Ratio for Personal Housing Loans.
On the afternoon of May 17, the real estate sector rose rapidly, as of press time, the development of urban construction touched the daily limit, Tiandiyuan returned to the daily limit, Binjiang Group rose more than 7%, Hefei urban construction, the first shares, etc. followed.
Central Bank: Lower the interest rate of personal housing provident fund loans
On May 17, the central bank issued a notice that from May 18, 2024, the interest rate on personal housing provident fund loans will be lowered by 0.25 percentage points, and the interest rates on the first set of personal housing provident fund loans for less than 5 years (including 5 years) and more than 5 years will be adjusted to 2.35% and 2.85% respectively, and the interest rates on the second set of personal housing provident fund loans for less than 5 years (including 5 years) and more than 5 years will be adjusted to not less than 2.775% and 3.325% respectively.
Central Bank: Cancel the first and second homes at the national level
The lower limit of the interest rate policy for commercial personal housing loans
The People's Bank of China simultaneously issued a notice on adjusting the interest rate policy for commercial personal housing loans:
1. Abolish the lower limit of the interest rate policy for commercial personal housing loans for the first and second houses at the national level.
2. Each provincial-level branch of the People's Bank of China, in accordance with the principle of city-specific policy, guides the self-discipline mechanism of market interest rate pricing at the provincial level, and independently determines whether to set the lower and lower limits of the interest rate of commercial personal housing loans in each city within their jurisdiction (if any) in accordance with the real estate market situation of each city within their jurisdiction and the regulation and control requirements of the local government.
3. Banking financial institutions shall, in accordance with the lower limit of interest rates (if any) determined by the self-discipline mechanism of market interest rate pricing at the provincial level, reasonably determine the specific interest rate level of each loan in combination with the operating conditions of the institution, customer risk status and other factors.
Two Divisions:
Adjust the policy of minimum down payment ratio for personal housing loans
On May 17, the People's Bank of China and the State Administration of Financial Supervision and Administration issued a notice on adjusting the minimum down payment ratio policy for individual housing loans, in order to implement the decisions and arrangements of the Party Central Committee and the State Council, adapt to the new changes in the supply and demand relationship of the mainland real estate market, the new expectations of the people for high-quality housing, and promote the stable and healthy development of the real estate market, the relevant matters of the personal housing loan policy are hereby notified as follows:
For households that take out loans to purchase commercial housing, the minimum down payment ratio for commercial personal housing loans for the first house is adjusted to not less than 15%, and the minimum down payment ratio for commercial personal housing loans for second houses is adjusted to not less than 25%.
On this basis, the provincial-level branches of the People's Bank of China and the dispatched agencies of the State Financial Supervision and Administration independently determine the lower limit of the minimum down payment ratio for commercial personal housing loans for the first and second houses in each city under their jurisdiction in accordance with the requirements of urban regulation and control and in accordance with the principle of city-specific policies.
He Lifeng:
Do a good job in the risk disposal of unfinished commercial housing
Protect the legitimate rights and interests of home buyers
The video conference on the work of ensuring the delivery of housing was held in Beijing on the 17th, and He Lifeng, member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, attended the meeting and delivered a speech. He Lifeng stressed that it is necessary to conscientiously study and comprehend the spirit of General Secretary Xi Jinping's important speech, thoroughly implement the deployment of the Political Bureau of the Central Committee, deeply understand the people's nature and politics of real estate work, continue to adhere to the city-specific policies, do a good job in the risk disposal of unfinished commercial housing, and solidly promote key tasks such as ensuring the delivery of housing and digesting the stock of commercial housing.
He Lifeng pointed out that real estate is related to the vital interests of the people and the overall situation of economic and social development. At present, it is necessary to focus on classifying and promoting the disposal of commercial housing projects under construction that have been sold and difficult to deliver, fully support the financing and completion delivery of projects that should be renewed, and protect the legitimate rights and interests of buyers. The relevant local governments should proceed from the actual situation and properly dispose of the idle stock of residential land that has been transferred by means of repossession and acquisition as appropriate, so as to help real estate enterprises with financial difficulties to solve their difficulties. In cities with a large inventory of commercial housing, the government may purchase some commercial housing at a reasonable price as appropriate. It is necessary to continue to do a good job in the prevention and disposal of debt risks of real estate enterprises, and solidly promote the construction of affordable housing, the transformation of urban villages, and the construction of public infrastructure for both ordinary and emergency purposes.
He Lifeng demanded that the responsibilities of local governments, real estate enterprises and financial institutions should be consolidated, overall coordination should be strengthened, the role of urban real estate financing coordination mechanism and re-lending policy should be given full play, and the guidance and support for cities and real estate enterprises should be strengthened, and the work of ensuring the delivery of housing should be effectively promoted in an orderly and effective manner.