At the meeting of the Political Bureau of the CPC Central Committee held on April 29, it was proposed to adhere to the positioning that houses are used for living rather than speculation, support all localities to improve real estate policies based on local conditions, support rigid and improved housing demand, optimize the supervision of commercial housing pre-sale funds, and promote the steady and healthy development of the real estate market. At present, to fully implement the spirit of the meeting of the Political Bureau of the CPC Central Committee, we should stick to the positioning, implement policies according to the city, work hard on the accuracy of regulation, effectively control key risks, do a good job in the big article of "stability", and take comprehensive measures to promote the real estate industry into a virtuous circle. Adhere to the principle of "stability first" and promote the steady and healthy development of the real estate market Since this year, the operation of the national real estate market has been generally stable, but its downward trend needs high attention. From several key indicators of the real estate industry: in the first quarter, the investment in real estate development increased by 0.7% year-on-year; In March, among the 70 large and medium-sized cities, the sales price of commercial housing in all line cities decreased year-on-year or the increase fell back; In the first quarter, the sales area of commercial housing decreased by 18.6% year-on-year; Land acquisition area decreased by 41.8% year-on-year; The funds in place of real estate development enterprises decreased by 19.6% year-on-year. Affected by the rebound of the epidemic, the exposure of individual head real estate enterprises to debt default risk, the expected decline of personal income and other factors, the expectation of the real estate market has weakened, the real estate sales have declined, and the enterprise liquidity risk has gathered. In terms of the main body of the real estate market, affected by the explosion of individual real estate enterprises, banks and other financial institutions tightened the financing end, sales declined, some places did not regulate the pre-sale funds of commercial housing, and multiple factors exacerbated the liquidity risk of real estate enterprises, resulting in "obstruction" in the microcirculation of the real estate market. For a long time, the demand groups for just needed and improved housing have faced high loan interest rates, and the qualification standards for the first house in some places need to be improved. These factors have increased the purchase cost of home buyers and exacerbated the trend of housing consumers delaying their entry into the market. In 2021, the added value of China's real estate industry accounted for 6.8% of GDP. The real estate industry has a large scale, long chain and wide coverage, and plays an important role in the national economy. "We should effectively control key risks and hold the bottom line of no systemic risks". "Real estate can be either a 'ballast' for economic and social development or a 'source of risk', which has an important systematic impact on economic and financial stability and risk prevention." Ni Pengfei, director of the city and competitiveness research center of the Chinese Academy of Social Sciences, said. Liu Lin, a researcher at the China Macroeconomic Research Institute, said that the meeting of the Political Bureau of the CPC Central Committee released a positive signal of "stability" around the development of the real estate market. While keeping the bottom line of risk, in order to promote the steady and healthy development of the real estate market, all localities can make more targeted and flexible policies according to the city, improve the conditions of land transfer, support the first rigid house purchase demand and reasonable improvement demand, and increase the supply of affordable rental housing for new citizens, young people and other groups. Adhere to the "policy for the city" and guide the virtuous circle of the real estate market Reduce the threshold of purchase and sale restrictions, reduce the proportion of down payment, and reduce mortgage interest rates... Since this year, nearly 110 cities have issued various real estate market regulation policies. Experts said that the meeting of the Political Bureau of the CPC Central Committee proposed two "supports" and one "optimization", which fully released the policy signal of implementing policies for local cities. China has a vast territory, with great differences in the real estate market among regions and obvious market differentiation. The contradiction between supply and demand in some hot cities in the Yangtze River Delta and the Pearl River Delta remains prominent for a long time, and the expectation of market recovery is gradually increasing. However, the urban market in which some people continue to flow out is still running at a low level. In view of the new situation and new challenges, all localities take supporting the first rigid house purchase demand, reasonable improvement demand and rental housing demand as the focus, and implement policies according to the city; Relevant departments have issued measures to promote a virtuous circle in the real estate market. Banks in more than 100 cities have independently lowered mortgage interest rates according to market changes and their own business conditions; Some cities will raise the upper limit of housing provident fund loans for families with two or three children who buy their first house; Expand mortgage loans, support high-quality enterprises'm & A loans to enterprises in danger, and allow debt extension; Regulate the supervision of pre-sale funds; Affordable rental housing loans are not included in the loan concentration management Optimize the housing supply structure and vigorously develop rental housing. We will accelerate the construction of affordable rental housing and develop the long-term rental housing market. According to relevant statistics, at present, the proportion of rental population in large cities such as Beijing, Shanghai, Guangzhou, Shenzhen and Hangzhou has reached more than 40%. In 2022, the total investment in capital construction indemnificatory rental housing in China is estimated to be about 850 billion yuan. Fu Linghui, spokesman of the National Bureau of statistics and director of the Department of comprehensive statistics of the national economy, said that with the moderate liberalization of purchase and sales restrictions in many places, reducing the threshold for the use of provident fund and accelerating the approval of house purchase loans, the housing demand in some cities will be released and the decline in sales area will be narrowed. In terms of pre-sale fund supervision, experts suggest that all localities should improve the supervision of pre-sale funds, clarify that the pre-sale funds should give priority to the payment of project funds, and allocate funds in strict accordance with the project nodes to ensure the completion and delivery on time. Prevent excessive increase of supervision limit and slow down the progress of loan allocation due to risk prevention. "It is very important to promote the clearance of blasting real estate enterprises as soon as possible and stabilize market expectations." Liu Lin said that on the one hand, by reducing the first house loan interest rate and housing transaction tax, we should improve the payment ability of home buyers, boost the reasonable housing consumption demand and improvement demand, and strengthen the expected guidance; On the other hand, we should resolutely and effectively deal with the risk of overdue delivery of real estate projects caused by debt default of individual real estate enterprises, and take "ensuring delivery of buildings, people's livelihood and stability" as the primary goal to safeguard the legitimate rights and interests of buyers. Adhere to the principle of "no speculation in housing and housing" and keep the bottom line of risk The meeting of the Political Bureau of the CPC Central Committee reiterated that we should adhere to the positioning of "houses are for living, not for speculation". At present, the real estate market with a scale of up to 10 trillion yuan is undergoing in-depth adjustment. The underlying logic of real estate development and operation of "high debt, high leverage and high turnover" formed in the past is changing, and the position of the real estate industry as the basic livelihood industry led by high quality is being established and consolidated. The positioning of "house is for living, not for speculation" has become a social consensus. This positioning has not wavered and the strength has not been relaxed. Feng Jun, President of China Real Estate Association, said that due to urban policies, all localities can not deviate from this positioning and direction, let alone rush to medical treatment, and take real estate as a tool and means to stimulate the economy in the short term. The key is to continue to implement the long-term mechanism of real estate, maintain the continuity and stability of regulatory policies, enhance accuracy and coordination, and strive to achieve the expected goal of stabilizing land prices, house prices and expectations. After bidding farewell to the development and operation mode of high debt, high leverage and high turnover, the real estate industry still has great prospects after returning to the attribute of basic people's livelihood and developing both rental and purchase. At present, the fundamentals of China's real estate market have not changed, and the demand for housing is still strong. The urbanization rate of China's permanent resident population is 63.9%, which is still in the stage of rapid urbanization. More than 11 million people are newly employed in cities and towns every year, bringing a large number of new housing demand. At the same time, a large number of old houses built before 2000 have small area, poor quality and incomplete supporting facilities, and residents have a strong demand for improving living conditions. To seek the overall situation and long-term development, respect the development law of the real estate market and the real estate industry, explore a new model of real estate development, anchor the people's growing desire for a better life, provide affordable housing with more comfortable living conditions and a more beautiful environment for the people, and let all the people live, which is the fundamental significance of promoting the stable and healthy development of the real estate market. (Xinhua News Agency)