Problem description:
What are the problems in China real estate finance at present? Why? This is my exam question, please help! Thank you!
Analysis:
A survey by the central bank shows that there are four major problems in China's real estate finance.
In mid-March, the research group of the Research Bureau of the People's Bank of China showed that in the past six years, although the average annual growth rate of real estate investment in China has reached more than 20%, and the real estate sales have also increased by more than 27% every year, there are four major problems in China's real estate finance.
The research group of the Research Bureau of the People's Bank of China pointed out that the biggest problem of real estate finance at present is that real estate development funds are too dependent on bank loans, so that the market risk and financing credit risk of real estate investment are concentrated in commercial banks. It is estimated that about 80% of land acquisition and real estate development funds come directly or indirectly from commercial bank credit. In the current capital chain of the real estate market, commercial banks basically participate in the whole process of real estate development. Commercial banks actually bear the market risk and credit risk in all aspects of real estate market operation directly or indirectly through housing consumption loans, real estate development loans, working capital loans of construction enterprises and land reserve loans.
Comment: For real estate people, it is not surprising that the central bank put forward this view. This view is only the embodiment of the consistent guiding ideology of the central bank and the China Banking Regulatory Commission in real estate credit.
The research group of the Research Bureau of the Central Bank believes that the second problem existing in real estate finance at present is that the land reserve system is imperfect and there are hidden risks in land reserve loans. Because the plate of urban development and transformation is very large, the value of land assets is often very high, so the financing demand for land acquisition is very huge. The main funds for land acquisition and development come from bank loans, and repayment mainly depends on land transfer fees. At the same time, land reserve is a * * * behavior, and it is easy to obtain huge loans from commercial banks for land acquisition and development. However, there are many factors that affect the land transfer price, and the price of land assets itself fluctuates frequently. All these increase the hidden risks of land acquisition and development loans.
Comments: Central Bank Governor * * * publicly stated in an activity at the end of 2003 that there is a certain problem of inflated price in the land sector at present, which may easily lead to high loan risk of banks.
The research group of the Central Bank Research Bureau believes that the third problem existing in real estate finance at present is that there may be default risk in the development of personal housing consumer credit. At present, the non-performing loan ratio of commercial personal housing loans in China is less than 0.5%, and the non-performing loan ratio of housing provident fund personal housing loans is only 0.24%. However, according to international practice, the risk exposure period of individual housing loans is usually 3 to 8 years, and the individual housing credit business in China has only started to develop in the last 3 years. At the same time, China's personal credit system has not yet been established, so it is difficult for commercial banks to conduct a comprehensive and strict investigation and monitoring of lenders' loan behavior and credit status.
Comments: A few days ago, the China Banking Regulatory Commission (CBRC) published the Guidelines for Risk Management of Real Estate Loans of Commercial Banks, and solicited opinions from all walks of life. In fact, the guidelines have begun to reveal that the regulatory authorities are highly concerned about the personal mortgage business.
The research group of the Central Bank Research Bureau believes that the fourth problem existing in real estate finance at present is the irrational, unscientific and irregular business practices of financial institutions such as commercial banks. For example, because commercial banks generally regard real estate credit as an "excellent asset", it is easy to get quick success and instant benefit in business operation.