According to the Economic Observer, at the end of September, the central bank and Banking and Insurance Regulatory Commission required six state-owned banks, including China Construction Bank , Industrial and Commercial Bank of China , Agricultural Bank of China , Bank of China , China Postal Savings Bank , and Bank of Communications, to increase support for real estate financing. Among them, each bank will provide at least 100 billion yuan in financing support this year, including mortgage loans, mortgage loans, development loans or bond purchases, etc.
Although the delivery direction and indicator arrangements of each bank are different, judging from the favorable financing objects supported by this supervision, fund easing is no longer a single target for enterprises or residents, but has begun to provide financial support to the supply side and demand side at the same time.
For example, Agricultural Bank of China tends to distribute new financing to central state-owned enterprises and leading high-quality real estate companies; Construction Bank tends to distribute mortgages and use small amounts for development loans; Bank of China is expected to allocate a certain amount of this 100 billion yuan financing to private enterprises that have not exploded, but needs to compete for syndicated loans.
If the 600 billion yuan financing quota is implemented, it is like a long drought and rain for developers under pressure on cash flow . In this regard, IPG China chief economist Bai Wenxi said that the total mortgage loans and development loans of these six major banks to the real estate industry in the first half of the year were about 600 billion yuan. If the 600 billion yuan new in the second half of the year can be implemented, it means that the loans injected into the real estate industry by these six banks in the second half of the year will double. Then the role of improving the liquidity of the real estate industry and promoting the industry's recovery is self-evident.
Not only that, Bai Wenxi believes that this also represents a signal from the policy in the financial field to promote the recovery of the property market. "The financing channels of real estate companies in the later stages will be expanded with this opportunity."
Li Yujia, chief researcher at the Housing Policy Research Center of the Guangdong Provincial Institute of Urban Planning and Planning, also believes that the implementation of this 600 billion yuan is of great significance to the market. From the market perspective, it can increase market expectations; from the perspective of enterprises, it can reverse the forced price reduction and promotion of real estate companies due to deterioration of capital chain, resulting in pessimistic market expectations, and further aggravated the vicious cycle of deterioration of capital chain. "After the developer's capital chain improves, enterprises will be more stable in the land market and real estate sales market, thereby promoting a virtuous cycle of the entire market."
There are many policies to stabilize the real estate market before the National Day. Which one is the most important? The three public policies are these three -
●Refund personal income tax (Ministry of Finance, State Administration of Taxation)
●Relax the lower limit of first-home mortgage interest rate (Central Bank, China Banking and Insurance Regulatory Commission)
●Reduce the interest rate of first-home provident fund mortgage (Central Bank)
This wave of "three arrows are all at once", which has had some effect during the National Day holiday, and sales departments and second-hand houses in various places have some positive reactions.
plus, this 600 billion, the real estate market is expected to bottom out and rebound.
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