According to the content of the plan, Zhengzhou Real Estate Relief Fund will set up a special relief fund under the Central City Fund in accordance with the principle of "government guidance, multi-level participation and market-oriented operation", with a tentative scale of 654.38+0 billion yuan, which will be operated in the form of parent-child fund. Relevant development zones, districts and counties (cities) will attract different types of social capital to set up sub-funds according to the relief projects, and according to the establishment of the projects and sub-funds,
The special fund for bail-out focuses on guiding and encouraging social capital such as central enterprises and provincial-level state-owned enterprises, as well as AA state-owned investment and financing companies at the listing and district levels to participate in revitalizing existing real estate projects with future sales income covering project investment in a market-oriented and legal way, alleviating the short-term liquidity difficulties of housing enterprises, and solving the problems of shutdown and monthly mortgage payment that some society pays attention to by dedicating the revitalized funds to the problem real estate projects of troubled housing enterprises.
The operation mode shows that the sub-fund formed by special relief fund, urban state-owned companies and social capital (including but not limited to central enterprises, provincial state-owned enterprises, construction enterprises, asset management companies and financial institutions) is the main body of implementation. In principle, the contribution ratio of the special relief fund shall not be higher than 30%, and the sub-fund shall be established by the state-owned investment and financing companies in the project area in principle, and the contribution ratio of each subject shall be determined by the parties through consultation.
At the same time, the sub-fund will hire a third party to thoroughly evaluate the project to be revitalized, and determine the revitalization method and price based on the net assets of the project; The revitalization funds are raised through the self-owned funds of sub-funds or financing methods, of which the self-owned funds are not higher than 40% in principle, and the rest are raised by actively seeking loans from financial institutions for mergers and acquisitions.
According to the plan, the sub-fund will implement closed management of the project, gradually recover the investment according to the sales progress, and gradually withdraw; Revitalize funds for the housing problem building that is in danger.
Image source: Pacific Securities
According to the plan, social capital will be used to revitalize 1-2 projects with high net assets of distressed real estate enterprises through special funds for bail-out, and the distressed real estate enterprises will be urged to use replacement funds exclusively to alleviate the problem of insufficient funds for some projects that have been stopped and mortgaged monthly, so as to realize the leverage effect of "revitalizing one family and saving a batch" and gradually resolve potential risks.
The plan is clear. After receiving the revitalization funds, the distressed housing enterprises should use all the funds for a number of projects that have been suspended and mortgaged for the month, and resume production as soon as possible. The Municipal Housing Security Bureau and the Municipal Audit Bureau supervise the whole process of the use of funds to revitalize housing enterprises and the resumption of production of problematic buildings to ensure the effectiveness of the bail-out policy.
Prior to this, the news of official website and Henan Asset Management Co., Ltd. in July 19 showed that Zhengzhou Real Estate Group Co., Ltd. and Henan Asset Management Co., Ltd. had recently reached an understanding that they would give full play to their respective advantages in professional teams and business resources, set up special work classes, and jointly set up Zhengzhou Real Estate Relief Fund to participate in the rescue work of revitalizing problem real estate and rescuing difficult housing enterprises through asset disposal, resource integration and restructuring consultants.
In addition, Zhengzhou Housing Management Bureau held a report meeting on "Head Housing Enterprises voluntarily withdrawing from the project" to support key enterprise projects such as Jianye, Xinyuan, Cambridge, Shimao, Greenland, Zhengshang and Sunac in four modes: shed reform, unified loan and repayment, project merger and acquisition, bankruptcy reorganization and affordable housing lease.
According to Zhengguan News, Zhengzhou Housing Security and Real Estate Administration said that by setting up a real estate rescue fund to help problem housing enterprises revitalize their assets, it is in line with the CBRC's previous proposal of "ensuring housing delivery, people's livelihood and stability".