Early
Hunsheng Paper
The traditional "Golden Nine Silver Ten" season in the real estate market, the first warmth felt by the Chinese property market comes from a state -owned enterprise.
The State -owned Assets Supervision and Assets Commission of Shandong Province issued a document on the official website on September 5 that according to the deployment of the Municipal Party Committee and Municipal Government, the company's subsidiaries of Jinan City Development Group will acquire 3,000 commercial houses locally for leasing reserve housing.Booking funds.
Although the official has not disclosed the amount of acquisition, some institutions are calculated based on the average price of new housing in Jinan and the average urban households.
This large acquisition immediately attracted public attention. "A state -owned enterprise in Jinan wants to buy 3,000 suites" immediately appeared on the Weibo hot search list.On September 8th, the official website of the Jinan State Institute of assets withdrew from the above statement, but the announcement could still be checked on the official bidding platform, and the person in charge of the relevant state -owned enterprise also confirmed that the bidding continued.
The background of the state -owned enterprise platform invested in buying houses is the weak inventory when the property market is weak.According to the data of the Jinan Statistics Bureau, the city's residential sales area in the first seven months of the first seven months of this year decreased by 32.5 % compared with the same period last year; at the same time, the area of residential residential houses increased by 31.2 % year -on -year.This is still under the premise of relaxing the purchase restriction conditions and reducing the down payment ratio, etc. this year.
The downturn in Jinan property market is just the corner of the iceberg of the Chinese property market this year.Real Estate Consulting's data showed that the sales of new houses of the top 100 developers in China have declined for 14 consecutive months, and sales in the first eight months of this year fell 47.4 % year -on -year.
When the Politburo of the Communist Party of China held a meeting at the end of July, it rarely arranged the "stable real estate market" statement before the "housing and not frying", highlighting the urgency of the current resolving the property market crisis.In order to curb the decline in the property market, governments from all local governments have released at least 70 real estate easing policies in the past two and a half months.The People's Bank of China has lowered the loan market quotation interest rate (LPR) three times this year. In the latest round of interest rate cuts in August, the five -year LPR decline linked to the mortgage interest rate was greater than the market expectations, highlighting the official determination of the official decline as soon as possible.
However, since the interest rate cut in August, the property market has not showed significantly.The transaction area of commercial housing in 30 large and medium -sized cities this month still decreased by about 20 % compared with the same period last year.The reason behind it is not difficult to understand: the severe economic and employment situation weakens the purchasing power of residents. The "rotten tail building" outbreak of the "rotten tail" stopped working, further cracking down on the confidence of buyers.Relying on interest rates or relaxation restrictions cannot be solved from fundamentally, and the boosting effect on buying qi is also very limited.
When the various types of market rescue measures have not worked well, the approach to the "national team" entry into the market has been recognized by some people in the industry.Some analysts believe that the acquisition of state -owned enterprises can help resolve housing inventory, alleviate the liquidity crisis of housing enterprises, but also lay the foundation for subsequent construction of the rental housing market, especially the supply of affordable leased housing, which can be described as one fell swoop.
IPG Chinese chief economist Bai Wenxi wrote that during the rapid development of China's property market, local governments accumulated wealth by selling land.Market space and innovative vitality.The high -leverage and high turnover model developed by land finance and industry under the strong government model jointly created a situation of rotten tail buildings, depletion of liquidity, and losing market confidence.
Bo Wenxi believes that since the end of last year, the various regulatory policies that were designed to promote market recovery and industry liquidity recovery failed to work, and the government's over -intervention caused the self -restoration ability of the market mechanism to be destroyed.Since the current property market dilemma was originally caused by improper industrial policies and formal supervision, "it is indeed until the tangible hand is over to clean up the chaos."
As early as mid -August, Zhejiang Huzhou was encouraged to acquire the slow -selling housing of real estate enterprises in difficult real estate companies in the local marketing measures introduced in Zhejiang Province as a guarantee of resettlement houses.After Jinan state -owned enterprises enter the market to rescue the market, hoping that the voices of other local governments will have risen.
However, some people are also worried that the side effects and sequelae of state -owned enterprises "bottom -up", such as whether the source of funds used for acquisitions is legally compliant, whether the bidding process is open and transparent.After the market recovers, then turn it on his arbitrage?In addition, the local finances that are stretched by the decrease in sales of land sales and the increase in epidemic prevention expenses, and how much the spare no effort is to be the bottom of the property market, which is also unknown.
At the time of the supply and demand of the property market, the acquisition of the "national team" through the "national team" will help stabilize housing prices and revitalize the market, and create liquidity more efficiently.However, if there is no supervision in various links in the process, it is possible to allow the "national team" to rescue the market to deteriorate into a hotbed of pipelines and corruption.If this means too much, it is more likely to cause the property market to drive a car and return to the distortion of state -owned enterprises to lead the market and compete with the people.
The 20th National Congress of the Communist Party of China will be held in one month, and the annual economy has three and a half months "overcome difficulties."In the face of continuously increasing political and economic pressure, it has become a top priority to stabilize the property market, which has become the top priority of governments in various governments.From the "Insurance Communications Conference" in Zhengzhou, Henan, and to buying a house in Jinan, Shandong, are all examples of the government's high participation in the "stable property market".However, if you focus on the sustainable development of the property market for a long time, in addition to focusing on whether the national team has the ability to save the market, you should also pay attention to whether this power should enter and how.
