Since this year, the real estate market as a whole has been in a downward trend. The number of cities with falling house prices has continued to increase. Buyers have a strong wait-and-see mood, and the real estate sales area and sales have declined. For the real estate industry in the adjustment period, better play the role of finance in supporting the real estate market, and keep the real estate financing reasonable and appropriate, which will help safeguard the legitimate rights and interests of housing consumers and promote the steady and healthy development of the real estate market. The real estate market has always been sensitive to changes in financial policies. With the further implementation of financial support measures for the real estate market, it is expected to play a more significant role in stabilizing the real estate market. Financial support from both supply and demand will help stabilize land prices, house prices and expectations. On the supply side, it is necessary to stabilize the loan delivery of real estate development and the credit delivery of construction enterprises, meet the reasonable financing needs of real estate projects, and provide necessary loan support to construction enterprises, which will help to enhance the confidence of real estate enterprises and construction enterprises, and also help real estate enterprises and real estate development projects better enter the benign operation track. It is worth mentioning that when the real estate industry is in the adjustment stage, it is more difficult for private real estate enterprises to broaden their sources of funds. When stabilizing the loan for real estate development, all kinds of state-owned and private real estate enterprises should be treated equally. Real estate enterprises with sound governance, focus on main businesses and good qualifications should receive key support. In addition to loan support, high-quality real estate enterprises should also be supported to issue bonds for financing, and trust and other asset management products should be encouraged to support reasonable financing needs of real estate. On the demand side, the reasonable demand for personal housing loans is expected to be further supported. Since the beginning of this year, various localities have implemented differentiated housing credit policies based on urban policies, and reasonably determined the down payment ratio of individual housing loans and the lower limit of loan interest rate policies. Financial institutions can reasonably determine the specific down payment ratio and interest rate level of individual housing loans on the basis of the lower limit of urban policies, and optimize the housing financial services for new citizens. Relevant support policies will reduce the financial pressure on buyers with rigid and improved needs, and help promote reasonable housing consumption. Financial support helps to promote the "delivery guarantee". In August this year, the Ministry of Housing and Urban Rural Development, together with relevant departments, supported cities in need to promote the construction and delivery of residential projects that have been sold, overdue and difficult to deliver through special loans from policy banks. At the same time, under the leverage of special loans, financial institutions will provide supporting financing support. "Guaranteed delivery of buildings" is crucial to stabilizing the current real estate market. Promoting the delivery of real estate development projects that have been sold, overdue and difficult to deliver will better safeguard the legitimate rights and interests of property buyers, and help all parties regain confidence in the development of the real estate industry, so as to maintain the overall social stability. Financial support is conducive to the risk management of real estate enterprises and the protection of the legitimate rights and interests of financial consumers. In the real estate industry that has entered the deep adjustment period, the mergers and acquisitions between projects and between enterprises will help the industry to achieve the survival of the fittest and resolve the financial risks of the industry. In this process, financial institutions should provide financial support for real estate project M&A. Commercial banks should not only steadily and orderly carry out real estate project merger and acquisition loan business, support high-quality real estate enterprises to merge and acquire real estate projects, but also give full play to financial resources
Edit：Yi Bin Responsible editor：Li Bin Wei
Source：Economic Daily
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