The social affair of the debt crisis of Chinese real estate enterprises has continued to expand. China has reportedly set up a real estate fund to raise a maximum of 300 billion yuan (RMB, the same below, about S $ 61.6 billion) funds to acquire bad tail buildings to assist in developmentMerchants solve debt problems.
This will be the first time that China's real estate company has fallen into a debt crisis last year.
Reuters on Monday (July 25) quoted state -owned bank officials who were informed that the fund supported by the Bank of China was 80 billion yuan.In addition, the financial information platform Redd news, the fund invested 50 billion yuan by the State -owned China Construction Bank in the early days, and the Central Bank of China allocated 30 billion yuan for re -loan.If this model is feasible, other banks will follow up, the goal is to raise 200 billion yuan to 300 billion yuan.
People familiar with the matter also said that the fund will be used to purchase unintentional real estate projects and complete construction, and then rent it to an individual as part of the government's promoting affordable rental housing.
message: Including more than 10 support developers from Evergrande Group
Redd also quoted sources as saying that the real estate fund will support more than 10 developers, including China Evergrande Group, which is in debt dilemma.
It is reported that regulators and local governments will be supported by eligible housing companies. Related funds can be used to purchase financial products issued by developers, and can also provide funds for the country's acquisition of relevant real estate projects.
The official may assist developers to solve the debt problem. On Monday, the stock price of Chinese real estate enterprises was promoted on Monday.
However, Hu Weijun, chief of Macquarie, said in an interview with Reuters: "We don't know the details of this fund. If it is only 80 billion yuan, it is not enough to solve the problem."
He believes that this fund may be part of a package plan to solve the current housing debt and mortgage crisis.
China's real estate industry is facing severe tests. It has become the development model that rely on high leverage and high turnover to become stronger and stronger. Housing companies face huge debt pressure.
According to the research data of Ker Rui Real Estate, more than 310.2 billion yuan in housing companies' debt in the second half of this year has expired. If it cannot be issued by the issuance of new debt or selling replies, the debt defaults of housing companies may be more and more intense.
Due to the broken capital chain of the developer, China has recently reported the news of the suspension of real estate projects.
Since late June, the owners of the Rotid Tail Building have announced the collective suspension of repayment of mortgages from banks until the project resumes.
According to Leju.com statistics, as of the 19th of this month, about 230 project owners in China issued a compulsory loan notice, involving 82 cities in 25 provinces and cities.
"Stop loan tide" further weaken consumers' confidence in Chinese real estate. Because many buyers of low -income classes are bet on the buying house, a large number of rotten tail buildings will not be resolved, and they will threaten them.social stability.
The China Banking and Insurance Regulatory Commission has spoken twice on the 14th and 17th of this month, and urged bank insurance agencies to actively perform their own responsibilities, take the initiative to take social responsibility, and do everything possible to promote the "insurance property".
Some local governments have recently interviewed housing companies to understand the problem of resumption of work in the real estate real estate, and launched solutions such as "one -on -one assistance" and "one policy" to assist in resolving the risk of real estate.
Zhengzhou, which has the greatest influence of the suspension of the storm, local state -owned enterprises intend to join forces with local asset management companies to set up real estate relief funds to solve the suspension and rotten problems of some real estate.
Industry insiders believe that the intervention of local asset management companies will help expand the capital channels of the real estate industry and alleviate the financing dilemma of housing enterprises; it can also improve the handling of non -performing asset disposal and the efficiency of disposal, and accelerate the risk of housing enterprises.
