**: China Real Estate Network.
The implementation of the real estate financing coordination mechanism is accelerating.
The Ministry of Housing and Urban-Rural Development and the State Administration of Financial Supervision recently jointly convened the latest scheduling meeting of the urban real estate financing coordination mechanism, emphasizing that in accordance with the principle of "building as much as possible" of the coordination mechanism, before March 15, cities at and above the prefecture level should establish a financing coordination mechanism, not only to complete the "white list" push with high quality, but also to coordinate and solve the difficult problems of the project with high efficiency. It is necessary to do a good job in project screening in strict accordance with the standards, and form the first batch of qualified projects after confirmation by financial institutions.
Since January 12, 2024, the Ministry of Housing and Urban-Rural Development and the State Administration of Financial Supervision jointly issued the Notice on the Establishment of an Urban Real Estate Financing Coordination Mechanism, and have held several meetings related to the Urban Real Estate Financing Coordination Mechanism.
As of February 28, 276 cities in 31 provinces across the country have established urban financing coordination mechanisms, with a total of about 6,000 real estate projects proposed, and commercial banks have quickly screened projects and approved loans of more than 200 billion yuan.
The financing coordination mechanism is an innovative measure to meet the reasonable financing needs of real estate enterprises under different ownership systems and solve the problem of real estate financing without discrimination. Combined with the work report of the two sessions on "optimizing real estate policies, supporting the reasonable financing needs of real estate enterprises with different ownership systems equally, and promoting the stable and healthy development of the real estate market", all localities will jointly promote the implementation of financing as soon as possible in the future.
According to the deployment of the special meeting, on the morning of February 29, 2024, the Ministry of Housing and Urban-Rural Development and the State Administration of Financial Supervision jointly held a scheduling meeting on the work of the urban real estate financing coordination mechanism.
The meeting emphasized that all localities should do a solid job in the relevant work of the financing coordination mechanism, pay attention to the quality of the "white list" of the project, grasp the progress of the work, grasp the project construction, and grasp the publicity and guidance. In accordance with the principle of "building as much as possible" of the coordination mechanism, before March 15, cities at and above the prefecture level should establish a financing coordination mechanism, which should not only complete the "white list" push with high quality, but also coordinate and solve the difficult problems of the project with high efficiency.
This is the first time since the establishment of the Financing Coordination Mechanism that a specific timeline has been specified.
Since the deployment of the urban real estate financing coordination mechanism in January, all localities and relevant financial institutions have acted quickly to establish mechanisms, put forward lists, and grasp implementation, and the work has made a good start. As of February 28, 276 cities in 31 provinces across the country have established urban financing coordination mechanisms, with a total of about 6,000 real estate projects proposed, and commercial banks have quickly screened projects and approved loans of more than 200 billion yuan.
Judging from the results of the real estate financing coordination mechanism announced since the end of January, the implementation of the real estate financing coordination mechanism is accelerating.
In contrast, as early as the end of January, a total of 170 cities in 26 provinces established an urban real estate financing coordination mechanism, the first batch of real estate project "white list" involved 3,218 projects, and 83 projects in 27 cities received loans of 178600 million yuan.
Now, the number of cities that have established a real estate financing coordination mechanism, the projects involved in the "white list", and the number of approved loans have all increased significantly in February.
Since January 12, 2024, the Ministry of Housing and Urban-Rural Development and the State Administration of Financial Supervision jointly issued the Notice on the Establishment of an Urban Real Estate Financing Coordination Mechanism, and have held several meetings related to the Urban Real Estate Financing Coordination Mechanism.
On January 26, the Ministry of Housing and Urban-Rural Development held a deployment meeting for the urban real estate financing coordination mechanism, and the list of the first batch of real estate projects was accelerated;
Subsequently, on February 20, the "two closed loops" were proposed, namely the closed loop of "push-feedback" and the closed loop of "distribution-use-reimbursement". For projects that are not to be loaned, the "reasons for the inability to lend" should be reported to the financial regulatory authorities, and at the same time, it is necessary to ensure that all funds are used for project development and construction, and strictly prevent funds from being misappropriated for land purchases, debt repayments or other investments.
Judging from the scheduling meeting of the urban real estate financing coordination mechanism held on February 29, the first thing is that the meeting was mainly held by the Ministry of Housing and Urban-Rural Development to the Ministry of Housing and Urban-Rural Development and the State Administration of Financial Supervision.
Secondly, from the perspective of the participants, the meeting not only had the Ministry of Housing and Urban-Rural Development and the people's leaders of the prefecture-level cities, but also 6 large state-owned commercial banks, 12 joint-stock banks and other commercial banks.
Combined with the requirements of the meeting, it is necessary to do a good job in project screening in strict accordance with the standards, and form the first batch of qualified projects after confirmation by financial institutions. At the same time, financial institutions are required to speed up the review. In accordance with the closed-loop work of "push-feedback", timely feedback on the problems existing in the project, the urban financing coordination mechanism should be solved as soon as possible, and then pushed to the financial institutions again after the project meets the conditions, so as to jointly promote the financing as soon as possible.
At the same time, the provincial financing coordination mechanism should supervise and guide the city's push projects, and urge the city to remove unqualified projects from the "white list" in a timely manner.
It can be seen that the first scheduling meeting of the urban real estate financing coordination mechanism included banks in the key to the urban real estate financing coordination mechanism.
Previously, in the "Rapid Implementation of the Financing Coordination Mechanism, the Ministry of Housing and Urban-Rural Development: 294 have been released300 million funds" in the article, we said that banks are still cautious about real estate loans, and this meeting may open up the key to the implementation of the financing coordination mechanism to a certain extent, and further promote the implementation of policies.
From the current point of view, the financing of real estate enterprises as a whole is still relatively sluggish.
CRIC data shows that the total financing of 65 typical real estate companies in February 2024 is 2188.7 billion yuan, a decrease of 47 from the previous month2%, a year-on-year decrease of 493%, setting a new low in monthly financing since 2021, of which the Spring Festival holiday has brought a certain impact.
Judging from the cumulative data of the whole year, the cumulative total financing of 65 typical real estate enterprises is 6334.1 billion yuan, a year-on-year decrease of 3762%。
In terms of financing structure, the domestic debt financing of real estate enterprises this month was 109700 million yuan, a decrease of 68 from the previous month5%, a year-on-year decrease of 721%；Asset-based financing was 1091.7 billion yuan, an increase of 481 percent from the previous month3%, an increase of 504 year-on-year8%, mainly due to the successful issuance of CR Land's consumer public REITs in February, with a total financing of about 69.$1.8 billion.
From the perspective of enterprise echelon, the average financing amount of the top 10 real estate companies from January to February 2024 is 133.3 billion yuan, which is the most among all echelons, and the financing scale of real estate enterprises in this echelon increased by 43 year-on-year31%, the largest increase.
From the perspective of financing costs, the financing costs of the top 10 echelon real estate enterprises are still the lowest, at 283%, a decrease of 019pct, 0. lower than the top 11-30 real estate companies with the highest financing costs68pct；The financing cost of the top 51 real estate enterprises decreased by 092pct, the largest decrease.
On the whole, although the current real estate financing coordination mechanism is accelerating the implementation, the overall financing of real estate enterprises is still relatively sluggish.
On the one hand, it is because the implementation of the policy requires a process, and on the other hand, it is also due to the current lack of market confidence.
From the current point of view, the financing coordination mechanism is a powerful starting point for building a new model of real estate development and accelerating the linkage of "people, real estate, land and money".
We support the accelerated implementation of the real estate financing coordination mechanism, so as to form a strong support for real estate enterprises, while enterprises still need to adjust their business strategies to maintain stable and healthy development.