Recently, the Shanghai Stock Exchange held a symposium on bond issuers of the "three major projects" in Jinan, Shandong Province, and 8 bond issuers participated. Relevant persons in charge of Shandong Securities Regulatory Bureau, Shandong Provincial Financial Bureau and Jinan Financial Bureau attended the symposium.
The purpose of this meeting is to thoroughly implement the spirit of the first financial work conference, implement the deployment of the China Securities Regulatory Commission, and further promote the construction of the "three major projects" by relevant enterprises through bond financing and stock assets. Participating companies said that in the context of major changes in the relationship between supply and demand in the real estate industry, enterprises need to actively adjust their development strategies, make full use of various financing tools in the bond market, and explore the path of transformation of the new development model.
Suggestions and suggestions for the construction of the "three major projects".
In July 2023, the executive meeting deliberated and passed the "Guiding Opinions on Actively and Steadily Promoting the Construction of Public Infrastructure for Ordinary and Emergency Purposes in Super Large and Mega Cities", followed by a number of policy documents in the short term, clarifying the top-level design requirements for promoting the establishment of a new real estate development model, and further launching the "three major projects" on supporting the planning and construction of affordable housing, the transformation of urban villages and the construction of public infrastructure for "ordinary and emergency" Relevant policy arrangements are an innovation and breakthrough in the traditional infrastructure model, and an important starting point for stabilizing infrastructure and investment.
At the symposium, the participating companies said that continuing to promote the construction of the "three major projects" is an important deployment and requirement put forward by the first financial work conference, and the enterprises will actively practice social responsibility, develop and innovate to enrich investment and financing channels, make full use of asset-based products, corporate bonds, corporate bonds and other bond tools to help carry out the construction of the "three major projects" project, and actively try REITs and other tools to continue to revitalize public rental housing and other holding stock assets.
Some participating enterprises proposed that the "three major projects" are in the context of major changes in the supply and demand relationship of the real estate industry, to adapt to the new requirements of the new development model of the real estate industry, and the company is also actively adjusting the strategy, changing the past "high leverage, high debt, high turnover" "three high" operation mode, actively participating in the construction of affordable housing and other markets, and studying the path of transformation to a new development model.
The bond market has taken multiple measures to meet its financing needs.
In recent years, the Shanghai Stock Exchange has actively supported the financing needs of enterprises in the field of affordable housing construction. Since 2021, the Shanghai Stock Exchange has issued more than 100 corporate bond projects to raise funds for the field of affordable housing, with a total of nearly 70 billion yuan raised.
Since the beginning of this year, the Shanghai Stock Exchange has clearly supported issuers engaged in construction business related to the 'three major projects' to raise funds through the bond market. The relevant person in charge of the bond business of the Shanghai Stock Exchange said, "In actual work, we have set up a special working group to meet the project needs of enterprises one by one, and actively encourage all kinds of enterprises to make full use of asset-based and REITs products while issuing corporate bonds (including corporate bonds), and make good use of bond market tools to meet the reasonable financing needs of enterprises." ”
Up to now, the Shanghai Stock Exchange has approved a total of 4 rental housing REITs, of which 3 have been listed and 1 has been approved but not issued. Since 2022, a total of 16 affordable housing ABS have been listed and transferred on the Shanghai Stock Exchange, with a total financing scale of 14.8 billion yuan, helping to revitalize the stock of affordable rental housing-related assets of enterprises.
Editor-in-charge: Shi Jian |Review: Li Zhen |Supervisor: Wan Junwei.
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