Let's talk about "two maintenance" first.
The meeting held that in recent years, the financial sector has fully implemented the long-term mechanism of real estate, steadily implemented the prudent management system of real estate finance, and maintained the continuous stability of real estate financial policies, which has played a positive role in serving the real economy, promoting economic transformation and upgrading, and promoting the stable and healthy development of the real estate market.
The meeting stressed that the financial sector should conscientiously implement the decision-making arrangements of the CPC Central Committee and the State Council, focus on the goal of "stabilizing land prices, housing prices and expectations", accurately grasp and implement the prudent management system of real estate finance, adhere to the positioning that "houses are used for living, not for speculation", insist on not using real estate as a short-term means to stimulate the economy, continue to implement the long-term mechanism of real estate, and accelerate the improvement of the financial policy system of housing leasing.
The meeting demanded that financial institutions should follow the principles of rule of law and marketization, and cooperate with relevant departments and local governments to maintain the stable and healthy development of the real estate market and safeguard the legitimate rights and interests of housing consumers.
Dong Ximiao, chief researcher of Zhilian Finance, pointed out that at the tenth meeting of the Central Committee of Finance and Economics held on August 17, it was mentioned that high-quality economic development should be used to resolve systemic financial risks and prevent secondary financial risks from being triggered in the process of dealing with risks in other fields. Strengthening and improving the regulation of the real estate market and maintaining the stable development of the real estate market are important aspects to prevent the occurrence of secondary financial risks.
Dong Ximiao said that it is necessary to further adhere to the positioning of "housing and not speculating", maintain pressure and treat it differently, strengthen risk prevention in the real estate market and key enterprises, and ensure that risk disposal is carried out smoothly and orderly. Finance is the blood of the real estate market, and a virtuous circle between finance and real estate should be realized. In the process of implementing the centralized management system of real estate loans, financial institutions should grasp the strength and rhythm actively and steadily.
Improve the ability of risk prevention and control
Earlier, on September 27th, the official website of the Central Bank disclosed the main contents of the 20021third quarter regular meeting of the Monetary Policy Committee of the Central Bank. The meeting mentioned that maintaining the healthy development of the real estate market, safeguarding the legitimate rights and interests of housing consumers, promoting high-level two-way financial opening, and improving the ability of economic and financial management and risk prevention and control under open conditions.
This is also the first time that the real estate market has been mentioned in all quarterly regular meetings of the central bank's monetary policy since 20 19. When the news came out, it caused a heated discussion. On September 28th, the A-share real estate sector rose collectively, and finally closed up by 3.38% on that day.
Beijing business today reporter learned today that since 2020, the regulatory red line of real estate finance in financing end, land supply end and consumption-oriented demand end has been continuously tightened, and the national real estate market has continued to cool down. After entering the second half of 20021,with the continuous tightening of real estate regulation, a large-scale "house price reduction tide" appeared in some cities, and local regulatory authorities severely cracked down on malicious price reduction by interviewing real estate enterprises and restricting landing.
On the other hand, with the gradual exposure of some housing enterprises' debt risks, it not only causes consumers to panic, but also causes the market to worry about the break of housing enterprises' capital chain, which in turn leads to systemic financial risks.
The real estate team of TF Securities Research Institute believes that the stable and healthy development of real estate is still the key point of maintenance. Combining with some recent risk events of real estate enterprises, or indicating that financial management departments are concerned about the market downturn and industry risk events, from the perspective of safeguarding the legitimate rights and interests of housing consumers, safeguarding people's livelihood and ensuring the delivery of houses will become the focus of the next stage of work.
Will the credit policy turn?
After the regular meeting of the Monetary Policy Committee of the central bank mentioned real estate, many insiders analyzed that the central bank released the signal of maintaining the stability of the housing market, which is of great significance to boosting confidence in the real estate market. At the same time, the voice that the credit policy of the real estate industry will turn and a new round of easing is coming is beginning to appear in the market.
In view of this situation, Zhang Dawei, chief analyst of Zhongyuan Real Estate, pointed out that the tight credit line of real estate is the main reason for the recent sharp decline in real estate. Previously, the market misunderstood that protecting the legitimate rights and interests of housing consumers was to relax the control of water credit. "At present, there is no policy change. Continue to clarify the principle of "housing without speculation" in real estate regulation. According to the content of this meeting, the credit shortage in the real estate market will continue, and it is a trend that the property market is cold in the fourth quarter. "
Yan Yuejin, research director of the think tank center of Yiju Research Institute, believes that the symposium made it clear that the credit policy still adheres to the orientation of housing and not speculation. At the same time, in the process of implementing centralized mortgage, all kinds of credit control need to be legal and reasonable, and the reasonable consumption demand of real estate and the reasonable rights and interests of buyers still need to be guaranteed. In addition to traditional mortgage loans and other fields, the credit work in the rental housing market also needs to be accelerated to actively cooperate with the healthy development of the rental consumer market.
Regarding how to do a good job of "safeguarding the legitimate rights and interests of housing consumers", Dong Ximiao said that in the case that a few real estate enterprises are short of funds, local governments, financial institutions, especially real estate enterprises should first take practical measures from the perspective of maintaining social stability and ensuring basic people's livelihood to ensure that the projects under construction are not unfinished, strive for the timely delivery of the sold properties, and handle the warrants for the delivered properties as scheduled.
"At the same time, we should continue to implement differentiated housing credit policies and promote the rational development of individual housing loan business. In the process of implementing regulatory policies, the financial management department should minimize the impact on the rigid demand of buyers and reasonably improve demand. " Dong Ximiao said.
(Editor: Pu Shasha)