To meet the reasonable financing needs of real estate projects without discrimination, the relevant work is advancing rapidly, and positive progress has been made. As of February 20, 214 cities in 29 provinces across the country have established a real estate financing coordination mechanism, and proposed a "white list" of real estate projects that can be given financing support in batches and pushed them to commercial banks, involving a total of 5,349 projectsA total of 294 projects in 57 cities have received bank financing for 162 projects300 million yuan, an increase of 11.3 billion yuan compared with before the Spring Festival holiday.
Form a joint force of "government, bank and enterprise".
For a long time, the real estate financing model has mainly been a direct connection between real estate enterprises and financial institutions. The advantage of this model is that it is direct and efficient, but the disadvantage is that the information is asymmetric, and financial institutions are sometimes unable to judge the credit risk status of real estate enterprises due to the difficulty of obtaining some key information, and it is difficult for financing to enter. According to the reporter's research, at present, banks generally do not have access to high-frequency data such as water, electricity, and invoices of enterprises, and there are still problems in credit information sharing.
Solving the problem requires overall coordination, information sharing, and multi-party communication, and the role of the urban real estate financing coordination mechanism is precisely here. In January 2024, the Ministry of Housing and Urban-Rural Development and the State Administration of Financial Supervision and Administration jointly issued the Notice on the Establishment of a Coordination Mechanism for Urban Real Estate Financing, requiring cities at and above the local level to establish a coordination mechanism for real estate financing. The mechanism is headed by the responsible comrade in charge of housing and urban-rural construction in the city, and the local housing and urban-rural development department and the State Administration of Financial Supervision are members of the unit.
How does the Coordination Mechanism work?It can be summarized into four key points: take the city as the unit and the project as the carrier, provide financial institutions with a list of real estate projects that can be financed, and implement closed management of loan funds.
Under the coordination mechanism led by the city, in accordance with the principle of fairness and fairness, the financial institutions within the administrative area will be pushed to the 'white list' of real estate projects that can give financing support. Xiao Yuanqi, deputy director of the State Administration of Financial Supervision and Administration, said that financial institutions should evaluate the support objects pushed by the coordination mechanism in accordance with the principles of marketization and rule of law. "For projects with normal development and construction, sufficient collateral, reasonable assets and liabilities, and guaranteed repayment, banks should actively meet reasonable financing needs. Xiao Yuanqi said that for projects that encounter temporary difficulties in development and construction, but can balance funds, they will not blindly draw loans, pressure loans, and cut off loans, but will give greater support through the extension of existing loans, adjustment of repayment arrangements, and new loans.
The coordination mechanism helps to unite the joint efforts of all parties, give full play to the role of various entities, and pragmatically respond to market demands. Wen Bin, chief economist of China Minsheng Bank, said that first, the territorial responsibility of the local government has been strengthened; second, it has strengthened the confidence of financial institutions; The third is to consolidate the main responsibility of real estate development enterprises.
It is worth noting that the coordination mechanism distinguishes the risks of real estate enterprise groups from the risks of individual projects. Wen Bin said that the coordination mechanism proposes a list of projects, not a list of enterprises, so that the risks of real estate enterprises can be distinguished from those of projects. The relevant person in charge of the Industrial and Commercial Bank of China believes that this is conducive to returning to the origin of project financing, preventing and controlling risks for banks, and is more conducive to accurately supporting project construction, preventing the suspension and overdue delivery of projects under construction, safeguarding the legitimate rights and interests of home buyers, and boosting market confidence.
The implementation of project loans has been accelerated.
At present, the coordination mechanism for urban real estate financing is accelerating its implementation. In January and February this year, the State Administration of Financial Supervision and Administration held two meetings to deploy and implement relevant work. "Banks should act as soon as possible, under the leadership and coordination of the city, together with the housing and urban development departments, and make good use of the policy toolbox according to the city's policies, so as to more accurately support the reasonable financing needs of real estate projects. Xiao Yuanqi said.
On February 6, the State Administration of Financial Supervision and Administration held a special meeting to further deploy and implement relevant work. The meeting required that the supervision bureaus should set up a special working class, take the initiative to strengthen coordination and cooperation with local governments and housing and construction departments, actively participate in the work of the coordination mechanism, and timely grasp the operation of the coordination mechanism in each city within their jurisdiction. At the same time, all commercial banks should take the initiative to connect with the coordination mechanism, and review the list of real estate projects pushed by the first bank, speed up the approval of credit, and achieve "full satisfaction" for reasonable financing needs.
According to the reporter's understanding, at present, a number of commercial banks have set up working groups and special working groups to strengthen unified leadership, accelerate organizational promotion, increase project docking, and step up financing landing. From the perspective of practical operation, before the "white list" was pushed, some commercial banks had already connected with the special team of the local coordination mechanism to help the preliminary screening of the project; After the "white list" was pushed, a number of commercial banks acted quickly, evaluated and classified policies one by one, and met the reasonable financing needs of normal projects under construction. Nanning City, Guangxi Province, has established a real estate financing coordination mechanism and pushed a "white list" of real estate projects to local financial institutions. Among them, the "Beitou Heyuan" commercial housing residential project won the 3300 million yuan of development loans, so far, the first loan of the national real estate project "white list" has landed.
On January 30, the Chongqing Municipal Commission of Housing and Urban-Rural Development and the Chongqing Supervision Bureau of the State Administration of Financial Supervision jointly pushed the first batch of "white lists" of real estate projects in Chongqing to financial institutions. "The Chongqing Branch of the Agricultural Bank of China actively implemented the plan, immediately organized and analyzed all the items in the list, accelerated the approval process, and shortened the approval time. The relevant person in charge of the Chongqing branch of the Agricultural Bank of China said that on February 1, the bank had approved the development loan 3200 million yuan, the term of 5 years, the first fund of 54.5 million yuan has been put in place on February 4, mainly used for enterprises to pay wages and project payments. As of February 19, ABC has approved nearly 100 loan projects in the first batch of lists, with an approved loan amount of more than 40 billion yuan, taking the lead in Chongqing, Anhui, Zhejiang, Guangxi, Shaanxi, Jiangsu, and Xinjiang to achieve the first loan delivery.
After obtaining the 'white list' of Guangzhou Coordination Mechanism projects, we evaluated and classified policies one by one, and found that the Guangzhou Nansha project of a private real estate enterprise was facing financial needs such as payment of project funds and wages before the Spring Festival. The relevant person in charge of the Guangzhou branch of the Industrial and Commercial Bank of China said that the bank took the lead in issuing a loan of 50 million yuan for this project, which solved the urgent needs of the enterprise in a timely manner.
"Grasp with both hands" in the development of risk management
The coordination mechanism also adheres to the principles of marketization and rule of law, and "grasps both risks" and development. On the one hand, after the "white list" is pushed to financial institutions, financial institutions and real estate enterprises negotiate on an equal footing and make independent decisions and implementation; On the other hand, the closed management of loan funds should be strengthened to strictly prevent credit funds from being misappropriated for land purchase or other investments, so as to prevent the occurrence of "risks caused by risk resolution".
According to the reporter's understanding, at present, in accordance with the principles of marketization and rule of law, commercial banks implement the requirements of "three checks" on loans, that is, pre-loan investigation, loan review, and post-loan inspection, strictly manage credit, and provide financing support to projects that meet the requirements and in different situations, so as to ensure the safety of bank credit funds. "Fast and steady combined. The person in charge of the relevant business of ICBC said that for the normal development and construction of the project, the focus should be on "fast" support, and for the development and construction of projects that encounter temporary difficulties, the focus should be on "stable" support, combining fast and stable, distinguishing group risks and project risks, more accurately and without discrimination to support the reasonable financing needs of high-quality projects of real estate enterprises, and promote the stable and healthy development of the real estate market.
In response to the management of credit funds, the Ministry of Housing and Urban-Rural Development emphasized at the deployment meeting of the urban real estate financing coordination mechanism held a few days ago that credit funds should be used in a closed manner and in compliance with regulations, and resolutely prevent misappropriation. "Under the premise of effectively implementing the closed management of project funds, 60 million yuan of new development loans have been invested. The relevant person in charge of the Zhengzhou branch of the Industrial and Commercial Bank of China said that with the support of the members of the coordination mechanism, the bank completed the review, mortgage and supervision account opening of a private group's Zhengzhou residential project in only two working days.
The reporter was informed that in order to do a good job in financing guarantee and further enhance mutual trust between banks and enterprises, the coordination mechanism will also strengthen information sharing, provide relevant financial institutions with information on project construction and operation, pre-sale fund supervision and other information in a timely manner, and further consolidate the main responsibility of real estate enterprises, guide real estate enterprises to improve their cash flow through project sales, disposal of stock assets, introduction of investors, etc., and urge real estate enterprises to reflect assets and liabilities, sales and operations in accordance with the law, use credit funds in compliance with regulations, and further enhance mutual trust between banks and enterprises. Promote the steady and healthy development of the real estate market. (Reporter Guo Ziyuan).
*:Economy**.