Cailian News on January 26th (Reporter Wang Haichun)A high-standard meeting held by the Ministry of Housing and Urban-Rural Development today has become the focus of attention of all parties. The theme of this meeting is closely related to the coordination mechanism of real estate financing which is highly concerned by the market.
On January 26th, the Ministry of Housing and Urban-Rural Development held a meeting to deploy the coordination mechanism of urban real estate financing. At the meeting, Ni Hong, Party Secretary and Minister of the Ministry of Housing and Urban-Rural Development, pointed out that accelerating the implementation of the coordination mechanism of urban real estate financing was effective, supporting the development and construction of real estate projects, and meeting the reasonable financing needs of real estate enterprises with different ownership equally.
According to the information released by the Ministry of Housing and Urban-Rural Development in official website, the heads of the relevant departments of the Central Finance Office and the Central Finance Office, as well as the relevant heads of the housing and urban-rural construction departments (commissions) of various provinces (autonomous regions and municipalities) and the heads of 35 key city governments attended the meeting.
In view of the current financing difficulties of some real estate projects, the meeting stressed that all localities should focus on projects, pay close attention to research and put forward a list of real estate projects that can be given financing support, coordinate financial institutions within their respective administrative regions to issue loans, and accurately and effectively support reasonable financing needs.
The meeting demanded that the credit funds should be operated in a closed way and used in compliance, and resolutely prevent misappropriation. At the provincial level, it is necessary to track and monitor the implementation and strengthen supervision and guidance. At the national level, an information platform for urban real estate financing coordination mechanism projects will be established, and weekly scheduling and monthly notification will be implemented. It is understood that before the end of this month, the first batch of projects can win loans after landing.
The chief researcher of Guangdong Housing Policy Research Center pointed out that this meeting has become the focus of attention of all parties because it is related to how to implement the coordination mechanism of real estate financing.
"Forming a specific project landing, the coordination mechanism will have practical significance, and the landing of the project will help to better explore a more mature financing coordination mechanism. Judging from the contents announced at the meeting, the high-level officials made it clear that the main responsibility, management responsibility and territorial responsibility of the competent authorities should be brought into play to solve the distrust between banks and housing enterprises. While forcing real estate enterprises to strengthen their management, this mechanism also puts forward requirements for banks to improve their ability to identify and control risks. Only through joint coordination and efforts can we truly implement support for stable enterprises. " Li Yujia said.
According to the information released by the State Financial Supervision and Administration, the General Financial Supervision and Administration held a meeting on January 26 to deploy and promote the implementation of the coordination mechanism of urban real estate financing. The main responsible persons of various regulatory bureaus, some regulatory branches of the General Administration of Financial Supervision, as well as national commercial banks, city commercial banks, provincial rural credit cooperatives and other institutions attended the meeting.
The meeting stressed that financial institutions should attach great importance to it, strengthen organizational leadership, establish internal mechanisms and clarify working rules. For projects that meet the credit conditions, it is necessary to establish a green channel for credit granting, optimize the approval process, shorten the approval time limit, and actively meet the reasonable financing needs. For projects that encounter temporary difficulties in development and construction, but the funds are basically balanced, we will not blindly lend, cut off loans, or press loans, but support them by extending existing loans, adjusting repayment arrangements, and adding new loans. At the same time, financial institutions should strengthen the closed management of funds to prevent the misappropriation of credit funds.
Previously, on January 12, the Ministry of Housing and Urban-Rural Development and the General Administration of Financial Supervision jointly issued the Notice on Establishing a Coordination Mechanism for Urban Real Estate Financing. The circular is clear, giving full play to the leading coordination role of the city government, establishing a coordination mechanism for urban real estate financing in cities at prefecture level and above, judging the real estate market situation and real estate financing demand, coordinating and solving the difficulties and problems existing in real estate financing, and combining the development and construction of real estate projects and the relevant situation of project development enterprises according to the principle of fairness and justice, putting forward a list of real estate projects that can be given financing support, pushing financial institutions and providing financing support.
Experts in the industry believe that the establishment of a coordination mechanism for urban real estate financing is actually to find a win-win point, and to accurately support the reasonable financing needs of real estate projects by distinguishing group risks from project risks. With the support of such favorable policies, the lending speed of financial institutions for some projects is expected to accelerate in the future.
According to Yan Yuejin, research director of Yiju Research Institute, the establishment of a coordination mechanism will help the financial sector and the housing sector to coordinate their operations and give play to the accuracy and timeliness of policies, which is an important measure to promote a virtuous circle of finance and real estate.
"According to the document, the coordination mechanism is headed by the deputy mayor of the city government in charge of housing and construction, and a real estate financing coordination mechanism with local housing and construction departments and agencies dispatched by the General Administration of Financial Supervision as member units is established." Li Yujia said.
The industry believes that the relevant departments take the lead, which shows that the regulatory authorities attach great importance to this mechanism, and this coordination mechanism has a strong landing on the practical level in classifying and financing housing enterprises.
Yan Yuejin pointed out that for high-quality housing enterprises, there are four main criteria for obtaining support, including normal development and construction, adequate collateral, reasonable assets and liabilities, and guaranteed repayment sources.
"This standard has a strong reference significance. According to this standard, housing enterprises can improve their work from the perspectives of engineering, assets, finance and sales, so that enterprises can meet relevant standards and obtain financing support." Yan Yuejin said.
It further stated that for enterprises with short-term capital pressure, it is necessary to prevent the situation of "loan withdrawal and loan pressure", and at the same time, it is necessary to provide relevant support through extension, adjustment of repayment arrangements and new loans.
"For enterprises that violate the law or evade debts, they should make risk warnings to financial institutions such as banks." Yan Yuejin said.
Li Yujia pointed out that credit is based on trust, so the purpose of establishing a coordination mechanism is to establish a docking platform for both parties to fully communicate; However, whether to lend or not will still be in accordance with the bank risk control and credit approval process. At the landing level of specific projects, it will be market-oriented, legal and voluntary, and will not be mandatory.
"One of the key factors is to consolidate the main responsibilities of all parties and explore new mechanisms and models. For example, housing enterprises should standardize financial data, operate in good faith, bid farewell to the highly leveraged model, and let banks trust housing enterprises. Banks should also increase the transformation of business systems and risk control models, instead of blindly adhering to the old model, that is, taking the implicit government guarantee, collateral and the rise in the value of collateral as the conditions for capital investment. " Li Yujia added.
Wang Xiaoyu, chief analyst of Zhuge Data Research Center, said that under the current market background, housing enterprises have weak investment confidence, and they are relatively cautious in taking land and starting new construction. From a macro point of view, this policy is a further measure of financial support for housing enterprises, and it is a favorable policy for housing enterprises.
"At the same time, it should be pointed out that financing can solve the current cash flow crisis and improve the liquidity of funds, but in the long run, the development of enterprises still needs to rely on their own hematopoietic capacity." Wang Xiaoyu said.