The Shanghai Securities News reporter learned from the relevant departments yesterday that in October, whether it was month-on-month or year-on-year, the scale of real estate loans had rebounded significantly. Financial institutions have basically returned to normal real estate financing.
For some time, focusing on the financing needs of real estate enterprises, market-related discussions have gradually heated up. In the first three quarters of this year, the growth rate of real estate loans slowed down significantly. According to the data, at the end of the third quarter of 2021, the balance of RMB real estate loans was 51.4 trillion yuan, an increase of 7.6% year-on-year, which was 4.3 percentage points lower than the growth rate of various loans and 1.9 percentage points lower than the growth rate at the end of the previous quarter. The data also shows that at the end of the third quarter of 2021, the balance of real estate development loans was 12.16 trillion yuan, an increase of 0.02% year-on-year, and the growth rate was 2.8 percentage points lower than the end of the previous quarter.
For the changes in the real estate development loan market, Zou Lan, director of the Financial Market Department of the People's Bank of China, said on October 15: On the one hand, due to the recent exposure of individual large-scale housing enterprises, the risk appetite of financial institutions for the real estate industry has decreased significantly, and there has been a consistent contraction; on the other hand, some financial institutions have some misunderstandings about the "three lines and four files" financing management rules, so that the projects that should be reasonably supported cannot get loans, and to a certain extent, the capital chain of some housing enterprises is tight.
In the face of short-term overreactions in the financial market, the financial management department has corrected it in a timely manner. At the end of September, the People's Bank of China and the Banking and Insurance Regulatory Commission jointly held a symposium on real estate finance work to guide major banks to accurately grasp and implement the prudent management system of real estate finance, maintain the stable and orderly delivery of real estate credit, and maintain the stable and healthy development of the real estate market.
In fact, the top management and financial management departments have recently released signals of an improvement in the real estate credit environment, emphasizing that the reasonable capital needs of the real estate market are being met.
On October 20, Vice Premier Liu He of the State Council stressed in his speech at the opening ceremony of the 2021 Financial Street Forum Annual Conference that financial risk prevention and control should be coordinated. It is necessary to adhere to the principle of marketization and rule of law, adhere to the bottom-line thinking, and achieve a dynamic balance between risk prevention and stable development. It is necessary to promote the reform of small and medium-sized financial institutions to reduce insurance, and properly handle the default risk of a small number of large enterprises. At present, there are individual problems in the real estate market, but the risk is generally controllable, reasonable capital needs are being met, and the overall situation of the healthy development of the real estate market will not change.
The reporter also learned from a number of banking financial institutions recently that in some regions and some banks, real estate loans are being fine-tuned and revised according to the specific situation under the premise of "the general direction has not changed", and in this process, more emphasis is placed on the satisfaction of "reasonable capital needs".
Wang Yifeng, chief analyst of the financial industry of Everbright Securities, believes that the total amount of follow-up real estate loans is expected to rise steadily, and the project reserves will be increased to ensure the stable and healthy development of the real estate business. For the post-loan management of the stock business, under the premise of ensuring the management of closed funds, we will orderly resolve risks, do a good job in policy transmission, dispel the doubts of business institutions, and do not blindly draw loans and cut off loans; and implement the policy of "ensuring housing delivery, ensuring people's livelihood, and ensuring stability".
Wen Bin, chief researcher of China Minsheng Bank, said that due to the deviation in the understanding of regulatory policies by some financial institutions before, it failed to meet the normal and reasonable financing needs of real estate. As the regulatory authorities strengthen guidance and communication in a timely manner and stabilize market expectations, financial institutions will basically return to normal real estate financing, which will help stabilize house prices, stabilize land prices, stabilize expectations, and promote the stable and healthy development of the real estate market.
Source: Shanghai Securities News