“China Securities Journal” published an article on February 12, “The new real estate loan of about 600 billion yuan in January welcomes a “good start”. According to the article, a reporter from China Securities Journal learned from the financial management department and a number of banks on February 11 that the real estate loan issuance in January ushered in a “good start”, with an increase of about 600 billion yuan. The new scale is based on the growth in the fourth quarter of last year. Further improvement, an increase of about 300 billion yuan over the average monthly level in the fourth quarter of last year. Among them, real estate development loans increased by about 200 billion yuan, and personal housing loans increased by about 100 billion yuan. Financial institutions continued to improve their financing activities for real estate companies.
Since last year, the financial management department has successively conveyed to the market the policy signal of “maintaining the healthy development of the real estate market and safeguarding the legitimate rights and interests of housing consumers”, and activities such as real estate sales, land purchases, and financing have gradually returned to normal. In January of this year, the decline of LPR with a maturity of more than 5 years has effectively boosted market confidence and is conducive to the release of housing demand.
Yan Yuejin, research director of the Think Tank Center of E-House Research Institute, said that the “good start” of real estate loans in January clearly reflects the gradual improvement of credit policies. “This will increase the activity of the entire real estate market, thereby ensuring the continuous recovery of real estate development loans and personal housing loans,” he said.
According to Zhou Maohua, a macro researcher at the Financial Market Department of China Everbright Bank, the “good start” is mainly due to three reasons: first, the financial management department timely implemented the rectification of some financial institutions’ mortgage policies, and the effect was obvious; second, the credit risk of individual real estate companies gradually affected Fading out, market confidence has recovered significantly, and the real estate credit environment has gradually improved; third, the financial supervision department has made it clear that it will meet the reasonable financing needs of real estate enterprises. Housing financing has boosted the recovery of the real estate market.
As far as the loans related to affordable rental housing projects are not included in the management of the concentration of real estate loans, people close to the regulatory authorities said that this means that the relevant loans issued by banks are no longer constrained by the concentration management indicators, and there is sufficient space to increase the management of affordable rental housing. Project credit.
Experts said that on the basis of adhering to the principle of “housing, not speculating,” and risk control, financial institutions should continue to implement differentiated housing credit policies of “policies tailored to the city” in the future, provide reasonable financial support, and maintain real estate development loans and personal loans. Housing loans are running smoothly.
“In the future, the real estate regulation policy needs to take into account short-term market stability and medium- and long-term standardized and healthy development. At the same time, speed up the construction of a long-term mechanism for real estate and promote the high-quality development of real estate. It is expected that real estate loans are expected to continue to recover.” Zhou Maohua said.
Xu Xiaole, chief market analyst of the Shell Research Institute, said that according to the data of the Shell Research Institute, the decline in the second-hand housing price index in the Shell 50 cities continued to narrow in January, and the prosperity index, which represents market expectations, rose to a stable operating range above 20. It is expected that with the effective control of the epidemic and the end of the holiday effect, the activity of market transactions will gradually recover.
Under the general direction of “promoting a virtuous cycle and healthy development of the real estate industry”, Xie Yunliang, chief macro analyst of Cinda Securities, said that with the gradual improvement of real estate corporate financing and the credit environment for home buyers, various real estate data is expected to bottom out in the middle of this year. pick up.
Huang Weiping, chief analyst of fixed income of Industrial Securities, believes that under the requirement of “promoting a virtuous circle and healthy development of the real estate industry”, “guaranteeing rigid demand + promoting sales + stabilizing financing” may be the direction for further development of real estate policies in the future.
Previously, Zou Lan, director of the Financial Market Department of the People’s Bank of China, emphasized that in the next step, the People’s Bank of China will adhere to the positioning that houses are for living in, not for speculation, and fully implement the long-term mechanism for real estate in accordance with the requirements of exploring new development models. The real estate financial policies shall be continuous, consistent and stable, the prudent management system of real estate finance shall be properly implemented, the financial support for housing leasing shall be increased, and city-specific policies shall be adopted to promote a virtuous circle and healthy development of the real estate industry.