The implementation of the “white list” real estate financing coordination mechanism for capacity expansion has accelerated
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The executive meeting of the State Council held recently pointed out that it is necessary to further optimize real estate policies, continue to ensure the delivery of buildings, people’s livelihood, and stability, further promote the implementation of the urban real estate financing coordination mechanism, systematically plan relevant support policies, effectively stimulate potential demand, and increase Increase the supply of high-quality housing and promote the stable and healthy development of the real estate market.
The reporter learned that since the deployment of the urban real estate financing coordination mechanism in January, various localities and relevant financial institutions have acted quickly to build mechanisms, make lists, and implement them. Recently, Guangzhou, Wuhan, Lanzhou and other cities have released the second batch of “white list” projects. At the same time, many leading real estate companies have announced the financing status of real estate projects shortlisted for the “white list”. Industry insiders said that as the “white list” continues to expand, the reasonable financing needs of real estate companies will be further met.
The Guangzhou Real Estate Financing Coordination Working Group Office recently issued the “Notice on Promoting the List of Municipal Real Estate Financing Coordination Mechanism Projects (Second Batch)”. The second batch of lists involves a total of 116 projects, an increase of 69 compared with the first batch of 47 projects. The Wuhan Municipal Housing Security and Housing Management Bureau also recently submitted a second batch of lists, involving 72 real estate projects, 66 development companies, and financing needs of 41.684 billion yuan. Lanzhou City has pushed the second batch of “white list” real estate projects to various local banking financial institutions, with a total of 37 projects that meet the conditions for financing support.
Industry insiders said that the second batch of “white list” projects have been released, releasing a positive signal that the real estate financing coordination mechanism will be accelerated and effective. Yan Yuejin, research director of E-House Research Institute, said that expanding the “white list” to more projects can play a positive role in alleviating corporate financial pressures and other issues, and also have a clear guiding role in stabilizing real estate market expectations.
It is worth noting that recently, many real estate companies such as Country Garden, Sunac, Rongsheng Development, and Xuhui have announced real estate projects that have been shortlisted for the “white list”, and have stated that the funds received will fully support the financing and construction delivery of their ongoing projects. .
In an interview with a reporter from the Economic Information Daily, the relevant person in charge of Sunac said that Sunac has more than 90 projects shortlisted for the first batch of “whitelists”, including Beijing, Tianjin, Chengdu, Chongqing, Zhengzhou, Shenyang, Qingdao, 20 cities including Wuhan, Kunming, Xi’an, etc. “With the subsequent implementation of new financing, the financial pressure on the development and operation of Sunac projects will be further alleviated, and the work of ‘guaranteing the delivery of buildings’ in various places will also be more effectively guaranteed.”
The relevant person in charge of Greenland Group also told reporters that as of now, Greenland Group has 34 projects approved to enter the “white list”, with a total planned financing amount of approximately 11.7 billion yuan. At the same time, a number of projects are also being reviewed and are expected to enter the “white list” one after another. After relevant projects enter the “white list”, the company will make every effort to promote the implementation of financing in the next step, providing a strong guarantee for ensuring delivery and stabilizing people’s livelihood.
“Establishing an urban real estate financing coordination mechanism and determining a ‘white list’ of real estate projects can, on the one hand, effectively support the reasonable financing needs of real estate companies and distinguish corporate risks from project risks; on the other hand, it can achieve linkage between government, banks and enterprises and improve docking. efficiency and provide more accurate support for the development and construction of real estate projects.” said Tan Yiming, an analyst at Minsheng Securities.
According to data disclosed by Ni Hong, Minister of Housing and Urban-Rural Development, during this year’s National Two Sessions, 312 cities in 31 provinces across the country have established urban real estate financing coordination mechanisms and submitted more than 6,000 “white list” projects. Among them, 82.8% are projects of private enterprises and mixed-ownership enterprises.
Many places have already begun to deploy the next steps. According to the real estate financing coordination mechanism working meeting held by Shandong Province, Shandong Province will complete two batches of “white list” projects in April and June this year. The relevant person in charge of the Shandong Provincial Department of Housing and Urban-Rural Development said that they will strictly control the quality of promotion, the amount of financing, and the number of projects, promote the implementation of more “white list” project financing, accelerate construction, and promote the stable and healthy development of the province’s real estate market.
In addition, various commercial banks are currently increasing credit support for “whitelist” projects included in the real estate financing coordination mechanism. Hu Gang, Vice President of China CITIC Bank, said that for the “white list” projects pushed by the coordination mechanism, the principles of “marketization” and “rule of law” will be adhered to and included in CITIC Bank’s green approval channel.
“The key to the smooth operation of the financing coordination mechanism is to complete the closed loop of ‘push-feedback’ and the closed-loop management of ‘issuance-use-repayment’. On the one hand, the former consolidates the responsibilities of the housing and urban and rural development departments for project management, allowing push projects can be whitelisted; on the other hand, feedback from the financial sector can help push the housing and urban-rural development departments to further improve project financing conditions; the latter is the key to the smooth operation of the financing coordination mechanism, preventing loans from being misappropriated and ensuring Credit funds are safe,” said Li Yujia, chief researcher at the Guangdong Provincial Housing Policy Research Center.
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