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The spokesperson of the China Securities Regulatory Commission answered reporters’ questions on November 28 on capital market to support the stable and healthy development of the real estate market. A spokesperson for the CSRC said that the CSRC decided to adjust and optimize five measures in equity financing and will be implemented from now on.
Specifically, the five measures include restoring mergers and acquisitions and restructuring of listed companies related to housing and supporting financing , restoring refinancing of listed real estate companies and listed companies related to housing, adjusting and improving the overseas market listing policies of real estate companies, further giving full play to the role of REITs in revitalizing the existing assets of real estate companies, and actively playing the role of private equity investment funds.
reporter learned that whether it is refinancing of listed real estate companies, mergers and acquisitions, or restructuring or resuming the refinancing of H shares listed companies with real estate as the main business, some listed companies have made corresponding preparations. I believe that in the near future, relevant cases and projects will be implemented.
Five measures of the China Securities Regulatory Commission support real estate equity financing
Recently, Chairman of the China Securities Regulatory Commission Yi Huiman said at the Financial Street forum that we must adhere to the focus of serving the real economy, pay close attention to the difficulties and challenges facing the real estate industry, support the implementation of the balance sheet plan to improve the high-quality real estate companies, continue to support the reasonable bond financing needs of real estate companies, support real estate companies to carry out mergers and acquisitions, restructuring and supporting financing, and support enterprises with a certain proportion of housing-related businesses to carry out equity financing.
A spokesperson for the China Securities Regulatory Commission said on the 28th that the stable and healthy development of the real estate market is related to the stability of the financial market and the overall economic and social development. The China Securities Regulatory Commission resolutely implements the decisions and deployments of the CPC Central Committee and the State Council, actively plays the role of the capital market, supports the implementation of plans to improve the balance sheet of high-quality real estate companies, increases the efforts to supplement equity, promotes the real estate market to revitalize existing stocks, prevent risks, and transform and develop, and better serves the stable macroeconomic market. The China Securities Regulatory Commission decided to adjust and optimize five measures in equity financing and will be implemented from now on.
First, restore mergers, acquisitions, restructuring and supporting financing of listed housing-related companies. allows qualified real estate companies to implement restructuring and listing, and the restructuring targets must be listed companies in the real estate industry. Listed companies in the real estate industry are allowed to issue shares or pay cash to purchase property-related assets; when issuing shares to purchase assets, they can raise supporting funds; the funds raised are used for existing housing-related projects and to pay transaction considerations, supplement working capital, repay debts, etc., and cannot be used to acquire land, auction land, develop new properties, etc. Listed companies in industries closely related to real estate such as construction, which are closely related to real estate, shall be implemented in accordance with the policies of listed companies in the real estate industry and support the integration of "same industry, upstream and downstream".
The second is to restore refinancing of listed real estate companies and listed housing-related companies. allows listed real estate companies to refinance in non-public ways, guide the raised funds to be used for policy-supported real estate businesses, including real estate projects related to "protecting houses and protecting people's livelihood", affordable housing , shantytown renovation or old city renovation demolition resettlement housing construction, as well as supplementary working capital and debt repayment that meets the refinancing policy requirements of listed companies. Other listed companies related to housing are allowed to refinance and require refinancing to invest in their main business.
The third is to adjust and improve the overseas market listing policies of real estate companies. is consistent with the domestic A-share policy, and will resume refinancing of H-share listed companies with real estate as the main business; and will resume refinancing of other H-share listed companies with main business not real estate business.
Fourth, further play the role of REITs in revitalizing the existing assets of real estate companies. works with relevant parties to increase efforts to promote the normal issuance of affordable rental housing REITs, and strive to build a "protected housing sector" in the REITs market. High-quality real estate companies are encouraged to reliably issue infrastructure REITs based on qualified warehousing and logistics, industrial parks and other assets, or as expanding assets for listed infrastructure REITs.
Fifth, actively play the role of private equity investment funds. launches a pilot program of real estate private equity investment funds, allowing qualified private equity fund managers to set up real estate private equity investment funds, introduce institutional funds, invest in existing residential real estate, commercial real estate, and infrastructure, and promote real estate companies to revitalize operating real estate and explore new development models.
multiple arrows are launched to support the stable and healthy development of the real estate market
Before the China Securities Regulatory Commission supported the equity financing of real estate enterprises, People's Bank of China and China Banking and Insurance Regulatory Commission issued the "Notice on Doing a Good Job in Current Financial Supporting the Stable and Healthy Development of the Real Estate Market" on November 23, proposing a total of 16 measures in 6 aspects, which are called "16 Finance Regulations" by the industry. This includes maintaining stable and orderly real estate financing, actively providing financial services for "security and payment", actively cooperating with risk disposal of trapped real estate enterprises, protecting the legitimate rights and interests of housing financial consumers in accordance with the law, adjusting some financial management policies in phases, and increasing financial support for housing rentals.
This round of "one line two sessions " is launched at the same time to support the stable and healthy development of the real estate market, aiming to maintain the market.
Industry insiders believe that the release of these policies does not mean that the policy shift in the real estate market is to "housing for living, not for speculation", the financial management department will implement and implement a package of policy measures to stabilize the real estate market and promote development in detail, and support rigid and improved housing needs.
Editor: Wan Jianyi
Proofreading: Su Huanwen
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