The signal is more meaningful.
According to the caliber in the notice of China Housing Association, the background of this negotiation meeting stems from a series of policies and measures to stabilize the State Council's economy, trying to solve the urgent needs in the process of resolving real estate projects.
The main contents of the fair include the steady development of real estate enterprises in the market changes, the demand analysis of real estate project relief, the analysis of legal and tax issues in the process of project relief, and the exploration of real estate enterprise relief transformation.
As for the participating units, the meeting intends to invite the responsible persons of real estate enterprises with bail-out projects, financial institutions that can provide bail-out support, enterprises that are willing to merge, reorganize and expand cooperation projects, as well as legal, fiscal and taxation institutions, financial service platform institutions and local housing societies.
"This is not the difficulty of supervising the first time to arrange housing enterprises, but there are not many such high-profile ones." In the view of the head of the debt department, one of the top ten real estate enterprises headquartered in Shanghai, as the China Housing Association of the association, this high-profile bail-out matchmaking meeting is more symbolic than practical. "As a non-regulatory department, it is very difficult for the Housing Society to bail out housing enterprises. On the one hand, it has no right to coordinate local governments, and on the other hand, it has not fully introduced policies. "
Guan Rongxue, an analyst at Zhuge Housing Search Data Research Center, also said that the convening of the fair sent a certain positive signal to the market, boosted confidence, stabilized expectations, and also prompted financial institutions to implement the policy call in time and make efforts in advance, which played a certain role in alleviating and boosting the market sentiment that is still depressed.
A well-known real estate analyst in the industry also said that the convening of such meetings continues to show that the resolution of non-performing assets of housing enterprises is still an important task, and it is necessary to make persistent efforts on the basis of previous work to further promote the completion of such work.
AMC participation
As judged by the above experts, debt-to-equity swap is still the top priority of current housing enterprises. To this end, participants include Cinda, one of the four AMCs in China, and Shi Aimin, general manager of the second strategic customer department of China Cinda, will introduce the rescue plan for financial institutions at this meeting.
It is worth mentioning that by consulting the historical announcement, it can be found that in 2020, Cinda Real Estate (600657) announced that the board of directors recently received a written resignation application submitted by Shi Aimin, deputy general manager. The reason why Shi Aimin resigned at that time was job transfer, and before that, Shi Aimin also served as the secretary-general of Cinda Real Estate.
Since the beginning of this year, the property market has been loosened, and the regulatory authorities have frequently voiced their voices to help housing enterprises alleviate the liquidity crisis. According to institutional statistics, since 2022, more than 100 cities in China have optimized and adjusted their real estate policies for more than 300 times. Since April, the frequency and intensity of policies have increased significantly, and the number of cities that optimize restrictions on purchases, loans and sales has increased, with hot second-tier cities such as Hangzhou, Chengdu, Jiangsu, Xi, Wuhan and Wuhan.
But at present, the policy effect is still not satisfactory. Regulators turned their attention to AMC, a financial institution that deals with non-performing assets more specifically. Under the guidance of policies, China Cinda, China Huarong and Great Wall Assets have participated in the rescue of housing enterprises.
Guan Rongxue also said that AMC's main advantage lies in the disposal of non-performing assets and has rich experience in real estate projects. Therefore, AMC's participation can revitalize existing assets and give new vitality to non-performing assets, which can alleviate the tight capital flow of housing enterprises to some extent.
"The involvement of asset management companies is of positive significance." A well-known real estate analyst told reporters that it is still difficult for high-quality housing enterprises to help such bad housing enterprises in a "poverty alleviation" way. After all, the national real estate market is cooling down. The advantages of asset management companies are even more obvious, and they can naturally be incorporated into the system.
Solving the liquidity crisis remains the key.
Although the policy has been continuously improved, at present, the solution to the liquidity crisis of housing enterprises is still not satisfactory.
According to the latest data from the National Bureau of Statistics, during the period from June 5438 to May, real estate development enterprises collected 6,040.4 billion yuan, a year-on-year decrease of 25.8%. Among them, domestic loans were 804.5 billion yuan, down by 26.0%; The utilization of foreign capital was 5 1 100 million yuan, an increase of1.01.0%; Self-raised funds were 265,438+0,066,5438+0 billion yuan, down by 7.2%; Deposit and advance payment 1, 9 1, 4 1 billion yuan, down by 39.7%; Personal mortgage loans reached 978.5 billion yuan, down by 27.0%.
Developers, including the person in charge of the debt department of the above-mentioned housing enterprises, also bluntly said that the serious asset recession is a common problem of housing enterprises in the current debt crisis. "Can be said to be robbery, fifty percent is good. We understand that everyone is afraid of mergers and acquisitions, but if there is no lead agency to coordinate from it, it will eventually be a strange circle of desperate price cuts-unwilling to sell, and the crisis will be difficult to solve. "
The above-mentioned real estate analyst, who did not want to be named, told reporters that similar fairs should be able to better talk about demand and make suggestions, which will play a positive role in better coordinating and handling problems. For developers, actively using such a platform and mechanism can better handle the disposal of debts and non-performing assets.
Guan Rongxue also said that at present, for developers, the most urgent rescue plan may be to improve the repayment ability of sales and the vitality of existing assets and optimize the allocation of resources.
As the only one of the top ten real estate enterprises, the general marketing principle of a private enterprise in Beijing is that it is suggested to lend money according to the rhythm of the supervision policy of pre-sale funds of commercial housing as soon as possible to avoid the liquidity crisis caused by excessive supervision of pre-sale funds.