Ministry of Housing and Urban-Rural Development: Fully Giving Urban Real Estate Control Autonomy

Beijing Daily Client | Reporter Lu Yang
Good news in the real estate market. On January 26th, the Ministry of Housing and Urban-Rural Development held the deployment meeting of urban real estate financing coordination mechanism. The meeting was clear,It is necessary to meet the reasonable financing needs of real estate enterprises with different ownership equally. In addition, local cities will be fully given the autonomy of real estate regulation and control, and real estate policies can be adjusted according to local conditions.
The orderly development and construction of real estate projects is the basis for the stable and healthy operation of the property market and concerns the vital interests of the people. In view of the current financing difficulties of some real estate projects, the Ministry of Housing and Urban-Rural Development proposed that all localities should focus on projects, pay close attention to research and put forward a list of real estate projects that can be given financing support, coordinate financial institutions in their respective administrative areas to issue loans, and accurately and effectively support reasonable financing needs.
It is more important to manage the funds well. The Ministry of Housing and Urban-Rural Development proposed that credit funds should be ensured to be operated in a closed way and used in compliance, and misappropriation should be resolutely prevented. At the provincial level, it is necessary to track and monitor the implementation and strengthen supervision and guidance; At the national level, an information platform for urban real estate financing coordination mechanism projects will be established, and weekly scheduling and monthly notification will be implemented. The reporter learned that,Before the end of this month, loans can be obtained after the first batch of projects are listed.
"It is a major measure to meet the reasonable financing needs of real estate enterprises with different ownership and promote a virtuous circle of finance and real estate." The Ministry of Housing and Urban-Rural Development said that for this,The people’s governments of cities at or above the prefecture level should play a leading and coordinating role, quickly establish and operate this important mechanism, timely judge the local real estate market situation and real estate financing needs, build a communication platform between government, banks and enterprises, promote the accurate docking of real estate enterprises and financial institutions, and coordinate and solve the difficulties and problems existing in real estate financing.
Nowadays, the relationship between supply and demand in the real estate market has undergone major changes. The Ministry of Housing and Urban-Rural Development proposed that all localities should adhere to the policy of the city, precise policy, one city and one policy, and make good use of the policy toolbox. Cities around the world will be fully given the autonomy of urban real estate regulation, and cities can adjust their real estate policies according to local conditions. At the same time, the Ministry of Housing and Urban-Rural Development said that it is necessary to rectify the order of the real estate market and correct the chaos in real estate development, transactions, intermediary and property.
Li Yujia, chief researcher of the Housing Policy Research Center of Guangdong Urban Planning Institute, said that in practice, banks are often worried about risks and have low trust in housing enterprises. Therefore, today’s policy focus has shifted to the optimization of the coordination mechanism, that is, pushing the list of qualified loan projects to financial institutions and financing these projects, thus supporting the development and construction of real estate projects and promoting the stable and healthy development of the real estate market.
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