On May 17, the nationwide video conference on housing guarantee and delivery was held in Beijing. He Lifeng, member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, stressed that he had a deep understanding of the people's and political nature of the real estate work, continued to adhere to the urban policy, played a key role in dealing with the risk of uncompleted commercial housing, and solidly promoted the key work of housing guarantee and delivery, digesting the stock of commercial housing.
In the afternoon of the same day, the Information Office of the State Council held a regular briefing on the policies of the State Council. 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 and Administration introduced the supporting policies for ensuring housing delivery. The statement and deployment of the central government and relevant departments on the real estate show that the efforts to ensure the delivery of real estate have been further strengthened, and various departments have taken comprehensive measures to demonstrate confidence and determination in stabilizing the real estate market. It is believed that with the gradual implementation of relevant measures, China's real estate market will stabilize and recover, and the steady and healthy development of the real estate market is expected.
The battle for housing guarantee and delivery has begun. Although this work has been carried out for a period of time and has achieved some results, there are still some difficulties in delivering the real estate projects under construction and sold. According to the overall plan, the city government will comprehensively investigate the local commercial housing projects under construction and sold, and identify the projects that are difficult to deliver. On the basis of finding out the bottom line, the project development enterprise will be guided to develop a "one project, one policy" disposal plan. This means that the housing guarantee work will be more detailed, more and more projects under construction that have been difficult to sell and deliver will be delivered as soon as possible, restoring all parties' confidence in the new commercial residential market, and realizing a virtuous circle in the real estate market.
In the process of promoting guaranteed delivery of housing, financial support is essential, and the urban real estate financing coordination mechanism has played a powerful role in leading the coordination and promotion. Since the launch in January this year, 297 cities at prefecture level and above have established real estate financing coordination mechanisms. The "white list" of real estate projects is one of the contents of the real estate financing coordination mechanism. As of May 16, the commercial bank has approved the loan amount of 935 billion yuan for the "white list" project according to the internal approval process. It is expected that the coordination mechanism of real estate financing will play a further role. The city government will promote projects that meet the "white list" conditions to "make progress as much as possible", and commercial banks will "make full use of loans" for compliance "white list" projects to meet the reasonable financing needs of projects under construction.
The purchase of some commercial houses as indemnificatory housing helps to promote the digestion of the stock of commercial housing. At the meeting of the Political Bureau of the Central Committee, it was proposed to study and digest the existing housing and optimize the incremental housing. At present, it is necessary to promote the digestion of stock housing. The relationship between supply and demand in China's real estate market has undergone fundamental changes, from the shortage of commercial housing in the past to the basic balance of supply and demand now, and even some cities have experienced oversupply. At the same time, China's housing security needs to be supplemented. Both allotment and rental affordable housing need to increase supply. According to relevant policies, in cities with a large inventory of commercial housing, the government can purchase some commercial housing at a reasonable price to be used as affordable housing. This is a powerful measure to adapt to the current changes in the relationship between supply and demand in China's real estate market, and can also further improve China's housing security system. The People's Bank of China announced that the scale of affordable housing refinancing is 300 billion yuan, which is conducive to accelerating the de stocking of commercial housing stocks and the supply of affordable housing through marketization, and helping multiple goals such as guaranteed housing delivery and the "white list" mechanism.
Properly dispose of the idle residential land that has been transferred by means of recovery and acquisition can help real estate enterprises with financial difficulties. At present, there are still some real estate enterprises facing the problem of capital shortage, which has led to the fact that some enterprises have not yet been developed due to various constraints after obtaining land. Taking back and purchasing these lands can avoid the problem of housing oversupply in some cities. At the same time, the funds returned after the land is recovered and acquired can help enterprises tide over difficulties. After the land is recovered and purchased, it can be used to build affordable housing, public supporting service facilities and improve the supporting conditions of surrounding housing.
The adjustment of credit policy will better stimulate housing consumption demand. Recently, there have been many adjustments in the housing purchase credit policy. This includes reducing the minimum down payment ratio of individual housing loans, canceling the lower limit of the policy for individual housing loan interest rates, and lowering the interest rates of housing provident fund loans for various types of duration. These policies will help reduce the threshold and pressure of housing purchase funds for residents, stimulate their enthusiasm for housing purchase, and promote reasonable housing consumption.
It can be expected that the recent comprehensive implementation of the real estate market will have a positive and important impact, which is expected to boost the confidence of buyers, drive the market to recover, improve the capital situation of real estate enterprises, and accelerate the accumulation of the strength of the real estate market to stabilize and recover. (Source: Economic Daily Author: Kang Shu)
