Experts in the industry believe that the notice will help support the construction of China's housing security system, promote the establishment of a multi-agent supply, multi-channel security, and rent-and-purchase housing system, and promote the stable and healthy development of the real estate market.
Reflect policy inclination and orientation
The Central Economic Work Conference held in February, 2002 1 and1emphasized that we should explore new development models, adhere to both rent and purchase, accelerate the development of long-term rental market and promote the construction of affordable housing.
At present, all localities will take accelerating the development of affordable rental housing as the key task of housing construction. The National Conference on Housing and Urban-Rural Construction held at the beginning of this year pointed out that in 20021year, 40 cities across the country raised 942,000 sets of affordable rental housing, and in 2022, the supply of affordable rental housing will be greatly increased, with the focus on big cities with net population inflow, and 2.4 million sets (rooms) of affordable rental housing will be built throughout the year.
Lou Peng Fei, a researcher at China Postal Savings Bank, believes that China is accelerating the improvement of the housing security system with public rental housing, affordable rental housing and * * * property housing as the main body, and the banking industry needs to provide sufficient and effective financial support in this process. Affordable rental housing is an important part of China's housing supply and security system, which is of great significance to the realization of housing for all people.
In this context, the "Notice" guides banking financial institutions to increase their support for the development of the affordable rental housing market, which is of far-reaching significance. Zhou, a macro researcher in the financial market department of China Everbright Bank, believes that this is a long-term mechanism and an important measure to promote the healthy development of China's real estate market, which is conducive to accelerating the establishment of a multi-agent supply and multi-channel guarantee system to meet the diversified needs of the market. This move reflects the policy inclination and guidance, and broadens the financing space of affordable rental housing projects.
Dong Ximiao, chief researcher of Zhilian Finance, said that the Notice made it clear that loans related to affordable rental housing projects were not included in the centralized management of real estate loans, which was a concrete measure to implement the spirit of the Central Economic Work Conference and helped to encourage banking financial institutions to adhere to the principle of "staying without speculation" and increase support for the development of affordable rental housing on the premise of preventing and controlling risks.
"In recent days, the impact of the epidemic has not subsided, and the downward pressure on China's economy is still relatively large. Under this circumstance, it is clear that loans related to affordable rental housing projects are not included in the centralized management of real estate loans, which is conducive to banking financial institutions accurately grasping and implementing the prudent management system of real estate finance, maintaining the stable and orderly delivery of real estate credit, and meeting the reasonable financing needs of real estate enterprises and the reasonable housing consumption needs of housing consumers. " Dong Ximiao believes that the release of this policy after the Spring Festival holiday will send a clear signal of stable expectations and confidence to the market, which will help promote the virtuous circle and healthy development of the real estate industry, thus promoting the expansion of domestic demand, steady growth and maintaining overall macroeconomic stability.
Adhere to the orientation of "housing and not speculating"
After the implementation of the "Notice", industry experts believe that the loans related to affordable rental housing projects are not included in the centralized management of real estate loans, which is also an important measure to adhere to the positioning of "staying and not speculating".
In fact, affordable rental housing is not included in the centralized management of real estate loans, which is an existing arrangement of the centralized management system of real estate loans. At the end of 2020, the People's Bank of China and the China Banking Regulatory Commission jointly issued the Notice on Establishing the Management System for the Concentration of Real Estate Loans of Banking Financial Institutions, which set the requirements for the concentration of real estate loans to five grades according to the assets scale and institutional types of banking financial institutions, and set "two red lines" for bank real estate loans. It is clearly pointed out that in order to support the development of the housing rental market, housing rental-related loans will not be included in the calculation of the proportion of real estate loans for the time being. After the relevant opinions on housing rental finance business are formulated and the corresponding statistical system is established, the housing rental-related loans that meet the definition will be included in the centralized management statistics.
In June, 20021,the General Office of the State Council issued the Opinions on Accelerating the Development of Affordable Rental Housing, which clarified the basic system and supporting policies of affordable rental housing, and proposed to further strengthen financial support, including improving the loan statistics suitable for affordable rental housing and treating it differently in the implementation of real estate credit management.
Zheng Chenyang, a researcher at China Bank Research Institute, said that on this basis, all localities have accelerated the construction of mechanisms related to affordable rental housing and made good progress in project identification, data statistics, supervision and management, monitoring and evaluation. In this case, the notice has met the landing conditions.
Affordable rental housing is mainly for new citizens, young people and other groups, and together with public rental housing and property housing, it constitutes China's housing security system. In the eyes of industry experts, the notice is also the embodiment of the positioning of "housing and not speculating". Lou Peng Fei believes that by developing affordable rental housing, new citizens and young people can solve the housing problem at relatively low rents, which can stabilize market expectations and avoid the crowding out of consumption by high housing prices. For this reason, actively participating in the construction of affordable rental housing is also an important measure to promote the positioning of "living without speculation". Loans related to affordable rental housing are not included in the centralized management of real estate loans, which can further mobilize the enthusiasm of the banking industry to support affordable rental housing, further promote the development of affordable rental housing, improve the housing security system, realize people's living in peace, and promote the stable and healthy development of the real estate market.
Financial institutions should make good use of policy dividends.
In June 5438+ 10 this year, the data released by the Ministry of Housing and Urban-Rural Development showed that the supply of affordable rental housing would be expanded during the Tenth Five-Year Plan period, and 40 key cities initially planned to add 6.5 million sets (rooms). According to the "Tenth Five-Year Plan" issued by various places, Shanghai plans to add more than 470,000 sets (rooms) of affordable rental housing during the "Tenth Five-Year Plan" period, accounting for about 45% of the total new housing supply. Beijing plans to increase affordable rental housing by no less than 40%; Guangzhou plans to build 600,000 affordable rental houses, accounting for 45.8% of the total housing; Shenzhen plans to build and raise no less than 400,000 sets (rooms) of affordable rental housing, accounting for about 45% of the total housing construction.
After the implementation of the Notice, experts in the industry believe that financial institutions should make good use of policy dividends, accelerate their entry into the affordable rental housing market, and increase their support for related projects.
"Commercial banks and other financial institutions will accelerate their entry into the housing rental market and explore a new model of housing rental credit under the premise of compliance with laws and regulations, which will not only help promote the development of housing rental finance in the direction of scale and specialization, but also help to form a long-term mechanism for the stable and healthy development of the real estate market." Dong Ximiao said that financial institutions should take this new regulation as an opportunity to optimize the real estate financial business structure and increase support and services for the housing rental market. First, strengthen communication and cooperation with local governments, support the development and construction of affordable rental housing, and provide innovative financial products and services in all aspects of housing rental platform transaction matching and credit evaluation; Second, we can cooperate with real estate enterprises to turn houses for sale into long-term rental sources and expand the supply of housing rental market by signing lease right transfer agreements; The third is to develop products such as rental loans and rental installments with moderate quotas and interest rates, and directly provide credit support to tenants in need.
The Notice is also an opportunity for the banking industry. Zheng Chenyang believes that the banking industry should adhere to the positioning of "housing and not speculating", invest funds in the field of affordable rental housing that meets the requirements, provide financial services through market-oriented means such as credit and bonds, innovate financial products such as rental housing bond investment trust fund products (ABS) and real estate investment trust funds (REITs), strengthen data statistics and risk monitoring, and promote legal compliance, risk control and sustainability of financial services.
(Original title "Related loans are not included in centralized mortgage management-financial support for affordable rental housing")