Recently, the Ministry of Housing and Urban Rural Development held a deployment meeting for the coordination mechanism of urban real estate financing. This heavyweight meeting at the beginning of the year is considered an authoritative barometer for understanding the current real estate financing situation and the next steps of real estate work deployment. The virtuous cycle of real estate relies on moderate supply and reasonable demand. Analysis has pointed out that the prominent problem currently facing China's real estate market is the contradiction between the supply side structural "de transformation" and the demand side structural "gap". It is not difficult to see that the current series of voices from relevant departments are aimed at improving demand side expectations and ensuring supply side security. After the implementation of the heavyweight statement, some cities have taken the lead in responding, and it is expected that the industry will continue to increase policies on both supply and demand in the future. The further precision of financing support to the demand side performance of the "project" real estate is not only related to the sales collection, cash flow status, and risk resolution of real estate enterprises, but also to the stable and healthy development of the real estate market. The Ministry of Housing and Urban Rural Development stated that it will accelerate the implementation and effectiveness of the coordination mechanism for urban real estate financing, support the development and construction of real estate projects, meet the reasonable financing needs of real estate enterprises of different ownership equally, and promote the stable and healthy development of the real estate market. "Equal treatment to meet the reasonable financing needs of real estate enterprises with different ownership" has become an important criterion for providing financing support to real estate enterprises since it was first proposed at the Central Financial Work Conference at the end of October 2023. The focus of the Ministry of Housing and Urban Rural Development's statement is to refine the support from "enterprises" to "projects". Specifically, the Ministry of Housing and Urban Rural Development emphasizes that in response to the current financing difficulties of some real estate projects, various regions should focus on projects, study and propose a list of real estate projects that can provide financing support, coordinate financial institutions within their administrative regions to issue loans, and accurately and effectively support reasonable financing needs. A stable supply side is the foundation for improving consumer expectations. Yan Yuejin, Research Director of E-House Research Institute, has reviewed the financing policies of recent years and pointed out that it has gone through the first three stages of "safeguarding the legitimate rights and interests of housing consumers", "financial 16 articles", and "three no less than". Currently, it has entered a new stage of "financing coordination mechanism". "This subtle change also indicates that some financing support policies or efficiency discounts in the past cannot directly reach the project end." Yan Yuejin said that the policy has made new deployments based on the new situation, and through the coordination of the municipal government, it promotes better integration between changes in the real estate market situation and the promotion of financing policies. The "whitelist" of real estate projects is about to be released. "Currently, different departments are focusing on the implementation of urban real estate financing coordination mechanisms, aiming to promote the landing of specific projects, explore mature mechanisms for financing coordination, solve the problem of distrust between banks and real estate enterprises, and force real estate enterprises to strengthen their management and support stable enterprises." Li Yujia, Chief Researcher of the Housing Policy Research Center of Guangdong Institute of Urban and Rural Planning, believes. According to data released by Zhongzhi Research Institute, although there has been marginal improvement in financing policies for real estate enterprises in 2023, the scale of non bank financing continues to decline. The industry achieved a total of 722.27 billion yuan in non bank financing throughout the year, a year-on-year decrease of 15.1%. This also calls for greater follow-up and implementation efforts after the establishment of the mechanism.