Yang Kewei: The prototype of the measures of "keeping diplomatic relations" in various places appeared at the beginning

Zhongxin Jingwei, August 8th: The measures of the measures of "guaranteeing the delivery" in various places have emerged at the beginning

Author Yang Kewei Kerry Research Center Deputy General Manager

Researcher at Bai Pinhui Kerry Research Center

Recently, the Zhengzhou Real Estate Special Fund has established an operation plan, and the scale is tentatively tentatively determined to be 10 billion yuan. In addition, China Huarong and Sunshine Group signed a strategic cooperation agreement for bailout to resolve the risk of real estate market. Under the policies of preservation of intersections and stable people's livelihood, local governments, housing enterprises, and financial institutions are actively taking various measures to carry out residential enterprises to relieve it.

Governments of various localities: Establishing a relief fund, dispatch working group

After investigating, we found that after the occurrence of project shutdown and loan discontinuation, Zhengzhou, Wuhan, Suzhou, Tianjin and other cities actively implemented the preservation and people's livelihood. The actual solutions mainly involved the following four aspects of policies:

First, set up a special real estate bailout fund. For example, Zhengzhou, a special fund for bailout is set up under the central city fund, and the scale is tentatively tentatively tentatively. The bailout project is limited to the existing real estate projects that can cover the project investment in the future. %. For example, Wuhan, Construction Bank intends to set up a 30 billion yuan bailout fund for the pilot of Hubei Province for piloting for the acquisition of problems and convert it into a public rental house. Another example is Nanning, it is expected to set up a stable fund for real estate, and the first phase of the plan is 3 billion yuan.

It is worth mentioning that Zhengzhou further clarified the four development models of bailout projects, involving shed reforms, re -acquire, bankruptcy and reorganization, and guarantee rental housing. Among them, the shed reform loan is still designated by the government to unify the amount of financing to apply for a shed reform loan amount from the State Development Bank. After investing in various issues, the financing platform will be replaced by the financing platform.

The acquisition is mainly aimed at projects with assets greater than liabilities. The bankruptcy reorganization is mainly aimed at those projects with large volume, complicated debt claims, more subsequent investment funds, and problems with problems in engineering construction and sales. The rental house is mainly aimed at those projects that are difficult to sell and cannot be guaranteed in later delivery.

Second, the dispatch working group was sent to urge the project to resume work as soon as possible. For example, Suzhou, the sub -district offices where the problem project is located and the district -level functional departments jointly established a working group to settle in the project site to urge the project to resume work as soon as possible, and supervise the quality of the project's project, and fully implement the "first floor, one strategy and one special class". Another example is Chongqing. The risk resolution and disposal team of real estate project projects is set up, and the real estate team will follow up the project construction progress, and the management of project account funds will be closed.

Third, the land model is returned. For example, Ganzhou, Jiangxi, the government decided to acquire part of the unprecedented land of the Greenland Group of the housing enterprise, and returned nearly 400 million yuan of land transfer funds to the project construction according to the construction progress.

Fourth, pre -sale funds should be standardized and moderately relaxed. For example, in Suzhou, the government designated the pre -sale fund supervision account for supervision to ensure that the subsequent pre -sale housing funds were used for the project itself, and pre -sale funds were prevented from being misappropriated. Another example is Tianjin. Eligible projects can allocate pre -sale supervision funds in advance, and distinguish the project risk and enterprise group risks to separate the high -quality projects of risk enterprises from the enterprise itself.

Real Estate: Group introduces receiving financial institutions

At present, many housing companies are also actively carrying out "self -rescue", and multiple measures and guaranteeing the property mainly involve the following four aspects:

First, the group introduced a trust company to take over the project company. For example, Evergrande Group has signed an agreement with many trust companies such as Everbright Trust and Minmetals Trust to peel off some city projects to trust companies, and trust companies invest in project companies Essence It is reported that Evergrande Group has reached cooperation with Chongqing Trust on related projects in Chongqing.

Second, creditors acquire high -quality projects for insurance companies. For example, under the coordination of the Shenzhen Municipal Government, CITIC Group has acquired 4 projects in Shenzhen in Shenzhen, with a total value of about 50 billion yuan, which greatly guarantees the delivery of high -quality projects for insurance companies.

Third, the debt of the auction project company introduces investors. For example, on the Ali auction platform, the creditor's rights of Cuizhu Real Estate Development Co., Ltd., Wuxi City, are intended to be transferred.

Fourth, the cooperative development project is taken over by the capital side. For example, Sunac's projects such as Chongqing, Cai Jia, and Wanzhou will take over the acquisition of equity by Fang Hongheng and set up urban companies to lead follow -up project development and construction. In the process, Hongheng will also actively find other funds to intervene in cooperation development.

Financial institutions: banks strengthen the risk control of the real estate industry

In the investigation, we found that in response to the project suspension, most of the core demands of the owners are still to urge the suspension of the project to resume work as soon as possible to ensure that the project projects can be delivered as scheduled. Essence

Recently, the China Banking Regulatory Commission pointed out that supporting localities to do a good job of "insurance delivery" to promote the steady and healthy development of the real estate market. At the actual level of implementation, China Huarong and Sunshine Group signed the "Breakfast Relief Framework Agreement", marking the official real estate industry of asset management companies (AMC). It can be expected that in the future, more financial institutions will actively rescue the insurance housing enterprises and revitalize non -performing assets in order to resolve the risk of real estate market and promote the orderly clearing of real estate companies.

The banking financial institutions are also strengthening the risk control of the real estate industry to minimize the risk of mortgage loans. For example, Tianjin, commercial banks to comprehensively strengthen credit in the real estate industry, mainly involve the following three aspects: First, the statistics of the statistics of the real estate situation, including whether the structure is capped, whether there is a postponed risk of delivery, and negative public opinion. Second, the real estate visited on the spot, focusing on investigating insurance companies. Third, strictly review the real estate industry loans, and the new real estate projects are more cautious. Problem project resumption is expected to accelerate advancement

Various governments, housing enterprises, and financial institutions have assisted in paying overpass and have achieved certain results. It is reported that 85 subsidiaries such as Guangdong, Zhejiang, Jiangsu, Shanghai, and Tianjin, which are under the jurisdiction of Evergrande Group's Pearl River Delta Company, have achieved 100%resumption of work. At least 17 of Yangquan and Jinzhong have been re -work 100%of the real estate under construction.

Focusing on the urban level, Wuxi has 5 projects announced the resumption of work, and multiple real estate in Suqian has also announced the resumption of work.

As local governments and financial institutions are actively relying on insurance companies and active non -performing assets, the most difficult moments in the real estate market will soon pass. We predict that the market in the second half of the year may gradually stabilize, especially the core first and second -tier cities, and the transactions are expected to rise and rise. (Zhongxin Jingwei APP)

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Editor in charge: Li Huicong

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