The real estate sector rose strongly on the 21st, as of press time, Huangting International, Zhongdi Investment, Sunshine Shares, Dima Shares, etc., Chongqing Development rose nearly 9%, special services rose more than 7%, and Vanke A rose more than 5%.
On the news side, on the 20th, the latest loan market ** interest rate (LPR) was announced, and the 1-year LPR was 345%, the same as the previous period; LPR for more than 5 years is 395%, down 25 basis points from the previous period.
In addition, the Ministry of Housing and Urban-Rural Development said on the 20th that since the deployment of the urban real estate financing coordination mechanism in January, all localities and relevant financial institutions have been in full swing to implement it, and many cities are still promoting the Spring Festival holiday, and the coordination mechanism has continued to make new progress. 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 projects; A total of 294 projects in 57 cities and 162 projects have received bank financing300 million yuan, an increase of 11.3 billion yuan compared with before the Spring Festival holiday. In addition, according to the relevant data of the Bank of China, the China Construction Bank, the Agricultural Bank of China, the Postal Savings Bank and some joint-stock banks, 123.6 billion yuan of loans have been approved for the "white list" projects, and loans are being issued according to the needs of the project construction progress.
Everbright pointed out that at present, the relationship between supply and demand in China's real estate market has undergone major changes, and at the beginning of 2024, the regulator will continue to actively optimize real estate policies and accelerate the construction of a new model of real estate development. From the perspective of the supply side, the regulator proposes that the financial industry has the unshirkable responsibility to support real estate, continue to support real estate financing through comprehensive methods such as credit, bonds, and equity, emphasize the "equal treatment" of financing for real estate enterprises under different ownerships, establish a coordination mechanism for urban real estate financing, and improve the mortgage ratio and use of operating property loans, so that the financing cash flow of high-quality real estate enterprises is expected to increase; From the demand side, the Ministry of Housing and Urban-Rural Development proposes to fully give urban real estate regulation and control autonomy, and local governments will increase support for demand-side housing purchases, including optimizing "housing and loans", reducing the down payment ratio and mortgage interest rate, further optimizing the scope of purchase restrictions and ordinary residential standards, and giving further support to multi-child families and talents to buy houses; It is expected that with the further improvement of the autonomy of local ** property market regulation, the urban and regional differentiation of the property market may be further intensified in 2024.
Guojin ** said that the five-year LPR was lowered by 25BP more than expected, which fully shows that ** attaches great importance to the real estate industry, and the interest rate reduction may form a synergy with the recent implementation of the real estate financing coordination mechanism and the easing policies introduced by various cities to promote the stable and healthy development of the real estate market. It is the first central state-owned enterprise to focus on layout, continue to cultivate core cities and focus on improving products, such as China Resources Land, China Merchants Shekou, C&D International Group, Huafa Co., Ltd., etc.