In order to boost the Chinese real estate market that has fallen into the cold winter, Bank of China has signed strategic cooperation agreements with eight real estate companies including Greentown China, Yuexiu Real Estate, and Huafa.
According to the China Securities Journal, these eight real estate companies are Greentown China, Yuexiu Real Estate, Huafa Co., Ltd., Longhu Group, Gemdale Group, Dahua Group, Xinwang Real Estate, and Junyi Holdings Group (HaierThe city created).This is another measure to support housing companies after the Bank of Communications was the first to sign a contract with Vanke Group and Midea Real Estate on November 23.
According to the agreement, both the banks and enterprises will give full play to their professional advantages and further deepen the comprehensive cooperation in the fields of real estate development loans, personal housing mortgage loans, mergers and acquisitions loans, guarantee letters, supply chain financing, bond investment and other fields.
It is reported that in order to promote the steady and healthy development of the real estate market in an orderly manner, the Bank of Communications has established a special work class that is coached by the main leaders, focusing on the goal of "three stability" and "three guarantees", and continuously optimizes the allocation of real estate credit resources allocation allocation.And authorization management.Through the launch of the "Insurance Communications" supporting financing special products in Henan and other places, we will help stabilize the real estate market.
According to the Bank of Communications, the next step will continue to implement the relevant requirements of the People's Bank of China and the China Banking Regulatory Commission on supporting the stable and healthy development of the real estate market, and use real measures to contribute to the virtuous cycle and economic stable operation of the real estate industry.
Reuters reported that last month, six largest commercial banks in China, including Bank of China, provided real estate developers with a new credit of at least $ 162 billion (about S $ 219.678 billion).Among them, the Bank of China agreed to provide Vanke with a credit quota of 100 billion yuan (RMB, the same below, about S $ 19.451 billion), to provide Midea Real Estate Holdings Co., Ltd. with a credit limit of 20 billion yuan.
In addition to strengthening credit support, after the Chinese government relaxes the restrictions on financing channels, real estate developers are also eager to raise funds through debt issuance and selling equity.However, analysts generally believe that the Chinese real estate market still needs some time to recover, because the weak economy is suppressing the confidence and consumption willingness of buyers.
