CCB convened a symposium with six real estate companies to further support their financing needs

On November 24, The Paper learned from people familiar with the matter that today, the China Construction Bank Head Office convened a symposium with six real estate companies in Beijing. The symposium listened to the needs of each real estate company and planned to further support the financing needs of real estate companies and supplement liquidity.

It is understood that the six real estate companies include Vanke, Longfor, Midea Real Estate, Xincheng Development, Binjiang Group, and Dahua Group.At the symposium, various real estate companies exchanged views on bond underwriting and investment, operating property loans, bank credit increases, overseas and cross-border financing, etc.

It is reported that the Bank of Communications Head Office will also convene eight real estate companies next week to discuss related matters.

Previously, on November 17, the People’s Bank of China, the State Administration of Financial Supervision, and the China Securities Regulatory Commission jointly held a symposium on financial institutions. The meeting proposed that all financial institutions should thoroughly implement the deployment of the Central Financial Work Conference and adhere to the “two unwavering principles.” The reasonable financing needs of real estate companies of different ownerships will be met equally, and real estate companies operating normally will not hesitate to lend, withdraw loans, or cut off loans. Continue to make good use of the “second arrow” to support private real estate companies in bond issuance and financing. Support real estate companies to raise reasonable equity financing through the capital market.

On November 21, the Shanghai Headquarters of the People’s Bank of China, the Shanghai Supervision Bureau of the State Administration of Financial Supervision, the Shanghai Securities Regulatory Bureau, the Shanghai Local Financial Supervision Bureau, and the Shanghai Municipal Science and Technology Commission jointly held a symposium on financial institutions.

The meeting required that financial institutions should implement the “16 Financial Articles” of real estate, adhere to the “two unwavering principles”, and meet the reasonable financing needs of real estate companies of different ownerships without discrimination. We will not hesitate to lend, withdraw or cut off loans to real estate companies that are operating normally. Continue to make good use of the “second arrow” to support private real estate companies in bond issuance and financing. Support real estate companies to raise reasonable equity financing through the capital market. Cooperate with local governments to implement city-specific policies to regulate real estate, better support rigid and improved housing needs, increase efforts to support the construction of the “three major projects” such as affordable housing, and promote the construction of a new model of real estate development. Financial institutions must follow the principles of marketization and rule of law and cooperate with local governments to steadily resolve local debt risks.

In addition, foreign media reported that regulatory agencies are drafting a white list of Chinese real estate developers, and 50 state-owned and private real estate companies may be included in it. The listed companies will receive credit, debt and equity financing, etc. With support from many aspects, this white list has expanded from the scope of systemically important high-quality real estate companies at the beginning of this year. According to reports, financial regulators are reportedly considering allowing banks to provide unsecured working capital loans to real estate companies.

Article Source:The Paperoriginal title: “CCB convened a symposium with 6 real estate companies to further support the financing needs of real estate companies.”

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