The rumor that Everbright Trust "suspended fundraising for real estate projects" is actually to optimize the structure. The rapid growth of real estate trust scale has aroused great concern.
On the afternoon of July 1 1, the rumor that Everbright Trust "urgently stopped raising funds for all real estate projects" spread rapidly, causing widespread concern. Later, it was reported that in addition to Everbright Trust, SDIC Taikang Trust also suspended such projects. It is also reported that this "emergency stop" is mainly aimed at trust companies in Beijing. However, industry insiders close to the Beijing Banking Insurance Regulatory Bureau told the Beijing Youth Daily that the Beijing Banking Insurance Regulatory Bureau has not stopped the real estate trust in the near future, and the supervision of the real estate trust business in Beijing is also carried out in accordance with unified requirements, and there is nothing special about it.
Everbright Trust rumored to suspend real estate trust.
According to previous market news, Everbright Trust issued an urgent notice saying that as of yesterday 12, all real estate projects (including direct sales and agency sales) were suspended, and all such projects raised after 12 were refunded. SDIC Taikang Trust also suspended such projects, all paid projects were returned, pre-registration was suspended, and real estate trust projects were suspended.
Relevant persons of Everbright Trust subsequently refuted the market rumors. Everbright Trust controlled the balance of real estate projects according to regulatory requirements, optimized the structure and operated smoothly. Everbright Trust insists on housing and not speculation, focusing on supporting housing security projects that are in line with policy orientation.
The supervision of real estate trust is becoming stricter.
No matter whether some trust companies stop real estate trust projects themselves, it is an indisputable fact that the supervision of real estate trust business is becoming stricter.
On May 17, the CBRC issued the Notice on Consolidating the Achievements of Combating Disorders and Promoting Compliance Construction (No.23 Document), emphasizing that it is not allowed to directly provide financing for real estate development projects with incomplete "four certificates", unqualified qualifications of developers or their controlling shareholders and insufficient capital.
In view of the recent rapid growth of real estate trust business of some trust companies, the CBRC recently launched an interview warning, requiring these trust companies to control business growth and improve the level of risk management and control.
It is reported that at least 10 trust companies were interviewed or warned this time. Companies receive different regulatory requirements, some require "consciously controlling the scale of real estate trust business", some require that the scale of real estate trust business should not exceed the end of the second quarter at the end of the third quarter, and some even require "completely suspending real estate trust business".
Some trust industry veterans said that their company's projects are operating normally. This person believes that all kinds of rumors about real estate trusts in the market are not across the board, but are aimed at a few companies and projects with hidden dangers in risk prevention and control, and compliant trust projects are not affected.
Financial observation
The real estate trust market is expected to normalize under the guidance of the cooling window.
The main reason why the real estate trust is highly concerned by the regulatory authorities should be the rapid growth of the scale of real estate trust. According to Puyi standard data, in the first half of 20 19, 2,954 trust products invested in real estate were issued, accounting for 39.43%, and the fundraising scale reached 45,365,438+94 million yuan.
Zhang Dawei, chief analyst of Zhongyuan Real Estate, pointed out that the loose trust fund was one of the main reasons for the active land market in the second quarter of 20 19. The proportion of trust funds invested in real estate has expanded, and new trusts have gradually concentrated in real estate. By the end of the first quarter of 20 19, the entrusted assets of 68 trust companies nationwide were 22.54 trillion yuan. Compared with the end of the fourth quarter of 20 18, the proportion of trust funds invested in basic industries and real estate has increased. The data shows that trust funds accelerated into the real estate industry in the second quarter.
Zhang Dawei also said that trust is still one of the main sources of funds for real estate enterprises. Norm is a trend, but it is impossible to be across the board. Although trust financing accounts for a relatively low proportion in the financing sources of real estate development, the overweight of real estate trust supervision policies will definitely affect the financing channels of real estate enterprises to a certain extent, and the tightening of financing of real estate enterprises is expected to increase.
Long Yan, a researcher of Puyi Standard, also believes that the recent changes in the scale and quantity of real estate trusts have released the signal that the industry will continue to increase real estate investment, and the timely window guidance of the regulatory authorities has made certain adjustments to trust financing. Under a series of regulatory measures, the overheated real estate trust market is expected to cool down, and the window guidance of the CBRC to trust companies will also be normalized, which will help urge trust companies to return to their original business, strengthen their active management capabilities, transform and develop real estate trust business, and explore real equity investment business. (Reporter Cheng Wei Coordinator/Yu Meiying) Photo courtesy/vision china