Focus on improving the operating cash flow of high-quality housing enterprises
Resolutely blocking risk contagion and effectively preventing and resolving the risks of high-quality head housing enterprises need to exert efforts from both ends of supply and demand. In order to prevent risks from spreading from dilapidated enterprises to high-quality housing enterprises, and comprehensively improve the operation of high-quality housing enterprises and cash flow from financing, relevant departments have drafted an action plan, which will be promoted as soon as possible in the near future.
The reporter learned that the plan is based on the idea of stabilizing the present and benefiting the long term. Through short-term targeted measures and medium-and long-term institutional arrangements, it focuses on promoting the 2 1 task in four aspects: asset activation, debt inheritance, equity replenishment and expected promotion.
In the "asset activation" action, it is necessary to activate reasonable demand through optimizing policies, increase efforts to ensure the delivery of buildings, stabilize real estate sales, compact the responsibility of enterprises to slim down and save themselves, support high-quality housing enterprises to improve asset quality through mergers and acquisitions, and strive to improve operating cash flow.
Baojiao Building is an important entry point for the financial sector to ensure the stable development of the real estate market. Accelerate the increase of the special loan for Baojiao Building by 654.38+050 billion yuan, set up the loan support plan for Baojiao Building by 200 billion yuan, increase the matching financing of the special loan for Baojiao Building, and strengthen the judicial guarantee for Baojiao Building ... A series of work arrangements around "protecting the corner building, ensuring people's livelihood and ensuring stability" will be accelerated in the near future.
The task also includes setting up special refinancing loans for national financial asset management companies, supporting them to participate in industry restructuring and mergers and acquisitions in a market-oriented way, and speeding up risk clearing. In promoting the construction of the housing rental market, the financial department will issue relevant documents on financial support for the development of the housing rental market in the near future, and set up a housing rental loan support plan of 654.38 billion yuan to support some cities to purchase existing housing in batches in a market-oriented manner and expand the supply of rental housing.
Wen Bin, chief economist of China Minsheng Bank, believes that with the implementation of a series of financial support policies, the cash flow of high-quality housing enterprises will be more effectively guaranteed, the construction of affordable housing will be steadily advanced, and the risks will tend to converge. After the risk is cleared, the industry will gradually enter a benign development track.
Multi-channel stable financing of high-quality housing enterprises
The reporter learned that under the premise of controlling risks and ensuring the security of creditor's rights, the financial department will increase the multi-channel financing support such as loans, bonds and asset management from the perspective of stock and increment, so as to maintain the stability of high-quality housing enterprises in cash flow from financing.
According to the action plan, in the next step, the financial management department will encourage financial institutions to negotiate independently with high-quality housing enterprises to promote a reasonable extension of stock financing; Increase new financing support such as credit and bonds; Research banks provide loans to high-quality housing enterprise groups to reasonably meet the liquidity needs at the group level; Support the payment of overseas debts according to law and provide policy support such as foreign exchange management.
In order to further reduce the financial leverage of high-quality housing enterprises and enhance their ability to resist risks, it is necessary to guide housing enterprises to make good use of equity financing. The "Action Plan" specifically proposes "supplementary action of rights and interests" to support high-quality housing enterprises to enrich their capital. On the one hand, support equity financing, adjust and optimize five equity financing measures such as mergers and acquisitions and refinancing of housing enterprises; On the other hand, we should develop enterprise real estate investment trust funds, cultivate professional and institutionalized housing leasing subjects, and accelerate the construction of housing leasing market.
Experts said that further stabilizing and broadening the financing channels of high-quality housing enterprises and promoting the credit repair of housing enterprises will help guide the balance sheets of high-quality housing enterprises to return to a safe range and boost market confidence and expectations.
Perfecting financial policies to boost confidence
At present, the pressure to promote the stabilization and recovery of the real estate market is still great, and precise policies are urgently needed to boost market confidence. "The financial management department should constantly improve the real estate financial policy, and make short-term targeted measures and medium-and long-term institutional arrangements in accordance with the idea of stabilizing the present and benefiting the long-term." Pan, deputy governor of China People's Bank, said.
In recent years, China has accelerated the establishment and improvement of a long-term mechanism for real estate financial management, and successively issued the "three lines and four files" rules for key housing enterprises and the pilot system for centralized management of real estate loans. The action plan is clear, reasonably extend the transition period of the centralized management system of real estate loans, improve the "three lines and four files" rules for 30 pilot housing enterprises, and improve some parameter settings on the basis of keeping the overall framework of the rules unchanged.
It is worth noting that the Action Plan is mainly aimed at high-quality housing enterprises that focus on their main business, operate in compliance and have good qualifications, with a focus on high-quality housing enterprises with large scale of operation, wide coverage and certain systemic importance. The plan only sets conditions for high-quality housing enterprises, and there is no specific list, so financial institutions can grasp it independently.
The symposium on credit work of major banks jointly held by the People's Bank of China and the China Banking Regulatory Commission recently emphasized that it is necessary to implement differentiated housing credit policies, better support rigid and improved housing demand, increase financial support for housing leasing, do a good job in housing financial services for new citizens and young people, and accelerate the establishment of a "rent-and-purchase" housing system.
Pan said that in the next step, the financial sector should thoroughly understand and implement the deployment of the Central Economic Work Conference, thoroughly study the major trends and structural changes such as the relationship between supply and demand in the real estate market and the urbanization pattern, optimize and improve housing financial services, and gradually promote the smooth transition of the real estate industry to a new development model.