On January 24, the governor of the central bank announced a larger-than-expected RRR cut. The reserve requirement ratio was lowered by 0.5%, providing long-term liquidity to the market of about 1 trillion yuan. As soon as the news of the RRR cut came out, A-shares regained 2,900 points strongly. On January 25, the State Administration of Financial Supervision said that the real estate industry chain is long and wide-ranging, has an important impact on the national economy, and is closely related to the lives of the people.
On January 24, the State Administration of Financial Supervision and the People's Bank of China jointly issued the Notice on the Management of Operating Property Loans. Before the end of this year, enterprises can use the loans to repay the old loans, repay the existing loans of real estate enterprises and the open market bonds issued. Developers can mortgage commercial, hotel, office and other operating properties to quickly cash in and repay debts.
On January 26, the Ministry of Housing and Urban-Rural Development's real estate financing coordination mechanism deployment meeting emphasized that all localities should pay close attention to the "developer" white list. Before the end of this month, the first batch of projects will be landed.
The State Administration of Financial Supervision also said that it will continue to reduce down payments and mortgage interest rates. The LPR rate is likely to be cut in February. There is also room for adjustment in the interest rate and down payment ratio of the second home. Guide and require banks and other financial institutions to vigorously support the construction of three major projects such as the transformation of urban villages, and release 350 billion yuan of water to make up for the decline in real estate investment, and a large amount of funds will flow into real estate, forming a strong support for real estate investment.
At present, the attitude towards real estate has also made a 360-degree turn and has become a key object of support, and a high level of awareness is that the real estate market will still be the anchor of the sea to solve the economic dilemma in 2024. On the one hand, the financing dilemma has been improved, on the other hand, the down payment and mortgage interest rates have been reduced, and the purchase restrictions have been lifted on a larger scale; I have never seen such a blockbuster bailout policy, it is simply crushing.