Ministry of Housing and Urban Rural Development: Increase the credit scale of "whitelist" projects to 4 trillion yuan by the end of the year

2024-11-20 13:39:30

On the 17th, the State Council Information Office held a press conference on promoting the stable and healthy development of the real estate market. Minister Ni Hong of the Ministry of Housing and Urban Rural Development introduced that by the end of the year, the credit scale of "whitelist" projects will be increased to 4 trillion yuan. The coordination mechanism for urban real estate financing should strive to include all qualified real estate projects in the "whitelist", and make every effort to advance and lend as much as possible to meet the reasonable financing needs of the projects.

Ni Hong stated that the Party Central Committee attaches great importance to the stable and healthy development of the real estate market. On September 26th, the Politburo meeting emphasized the need to promote the stabilization of the real estate market, strictly control the increment, optimize the stock, and improve the quality. To respond to the concerns of the masses, we must urgently improve policies on land, finance, taxation, and banking, and promote the construction of a new model for real estate development. On September 29th, the State Council held an executive meeting to study and deploy specific implementation work.

Ni Hong mentioned that the Ministry of Housing and Urban Rural Development, together with the Ministry of Finance, the Ministry of Natural Resources, the People's Bank of China, the State Administration for Financial Regulation and other departments, will guide various regions to take rapid action, implement existing policies, and introduce incremental policies, playing a "combination punch" to promote the market to stop falling and stabilize.

Ni Hong introduced, how to use "combination boxing"? In summary, it means four cancellations, four reductions, and two additions.

The four cancellations are to fully empower the city government with regulatory autonomy, and the city government should adopt policies tailored to the city to adjust or cancel various restrictive measures on home purchases. This mainly includes the cancellation of purchase restrictions, sales restrictions, price limits, and the cancellation of standards for ordinary and non ordinary residential properties.

The four reductions are to lower the housing provident fund loan interest rate by 0.25 percentage points; Reduce the down payment ratio for housing loans and unify the minimum down payment ratio for first and second home loans to 15%; Reduce the interest rate of existing loans; Reduce the tax and fee burden of "selling old and buying new" for the purchase of housing. By implementing these policies that have been introduced, the cost of housing for residents can be reduced, the pressure of repayment can be alleviated, and the demand for rigid and improved housing can be supported.

Two additions, one is to implement the renovation of 1 million urban villages and dilapidated houses through monetary resettlement and other means. There are many safety hazards and poor living environment in urban villages, and the public's willingness to renovate is urgent. According to relevant surveys, only in 35 large and medium-sized cities across the country, there are 1.7 million urban villages that need to be renovated. From the perspective of other cities in the country, this amount is still very large, and it can be said that there is also a demand for renovation in other cities. The Ministry of Housing and Urban Rural Development conducted a survey on 500000 dilapidated houses that need to be renovated in cities across the country. The newly proposed implementation of 1 million sets is mainly for projects that are relatively mature and can be started in advance by increasing policy support. This time, the main approach is to adopt monetary resettlement, which is more conducive to the masses choosing suitable houses according to their own wishes and needs, reducing or eliminating the need for external transition, and allowing them to move directly into their new homes. At the same time, it is also conducive to digesting the stock of commercial housing. Secondly, by the end of the year, the credit scale of "whitelist" projects will be increased to 4 trillion yuan. The coordination mechanism for urban real estate financing should strive to include all qualified real estate projects in the "whitelist", and make every effort to advance and lend as much as possible to meet the reasonable financing needs of the projects.

Ni Hong pointed out that since the release of relevant policies, the policy effects have begun to show, and the decline in major indicators such as real estate development investment and new commodity housing sales continues to narrow. Especially since the end of September, the number of views, visits, and contracts for first-hand houses has significantly increased, and the transaction volume of second-hand houses has continued to rise, indicating positive changes in the market.

Ni Hong said that according to media reports, the support for real estate policies in many places has increased, and the real estate market in first tier cities has rebounded across the board. Next, the Ministry of Housing and Urban Rural Development will work together with relevant departments to resolutely implement the decisions and arrangements of the Party Central Committee and the State Council, implement them one by one, fully unleash the policy effects, and benefit the people more.

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