The "whitelist" continues to expand and the coordination mechanism for real estate financing is accelerating its implementation
2024-03-25
The recently held executive meeting of the State Council pointed out the need to further optimize real estate policies, continue to do a good job in ensuring property delivery, people's livelihood, and stability, further promote the implementation and effectiveness of urban real estate financing coordination mechanisms, systematically plan relevant support policies, effectively stimulate potential demand, increase the supply of high-quality housing, and promote the stable and healthy development of the real estate market. The reporter learned that since the deployment of the coordination mechanism for urban real estate financing in January, various regions and relevant financial institutions have taken rapid action to establish mechanisms, list and implement them. Recently, multiple cities including Guangzhou, Wuhan, and Lanzhou have released the second batch of "whitelist" projects. At the same time, several top real estate companies have announced the financing situation of real estate projects that have been shortlisted. Industry insiders say that with the continuous expansion of the "whitelist", the reasonable financing needs of real estate companies will be further met. The Guangzhou Real Estate Financing Coordination Working Group Office recently issued a notice on pushing the second batch of project lists for the city's real estate financing coordination mechanism. The second batch of lists involves a total of 116 projects, an increase of 69 compared to the first batch of 47 projects. The Wuhan Housing Security and Housing Management Bureau recently submitted the second batch of lists, involving 72 real estate projects, 66 development enterprises, and a financing demand of 41.684 billion yuan. Lanzhou City has submitted the second batch of "whitelist" real estate projects to local banking and financial institutions, with a total of 37 projects that meet the financing support conditions. Industry insiders say that the second batch of "whitelist" projects have been released one after another, releasing a positive signal that the real estate financing coordination mechanism is accelerating its implementation and effectiveness. Yan Yuejin, Research Director of E-House Research Institute, stated that expanding the "whitelist" to more projects can play a positive role in alleviating financial pressure on enterprises and has a clear guiding role in stabilizing the expectations of the real estate market. It is worth noting that recently, several real estate companies such as Country Garden, Rongchuang, Rongsheng Development, and Xuhui have announced the "whitelist" of real estate projects, and have expressed their full support for the financing and construction delivery of their ongoing projects with the funds they have received. The person in charge of Rongchuang stated in an interview with the Economic Reference Daily that more than 90 projects have been shortlisted for the first batch of "whitelists", involving 20 cities including Beijing, Tianjin, Chengdu, Chongqing, Zhengzhou, Shenyang, Qingdao, Wuhan, Kunming, Xi'an, etc. "As new financing is gradually implemented, the financial pressure on the development and operation of Rongchuang projects will be further alleviated, and the 'guaranteed delivery' work in various regions will also be more strongly guaranteed. The relevant person in charge of Greenland Group also told reporters that as of now, 34 projects have been approved to enter the 'whitelist', with a total planned financing amount of about 11.7 billion yuan.". Meanwhile, a batch of projects are also under review and are expected to gradually enter the "whitelist". After the relevant projects enter the "whitelist", the company will make every effort to promote the landing of financing, providing strong guarantees for ensuring delivery and stabilizing people's livelihoods. Establishing a coordination mechanism for urban real estate financing and determining the 'whitelist' of real estate projects can effectively support the reasonable financing needs of real estate enterprises, distinguish enterprise risks from project risks, and achieve linkage between government, bank, and enterprise
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