As China mobilizes resources to ensure the security of home deliveries and restore stability to its volatile real estate market, authorities are providing local governments and financial institutions with the funds they need for ongoing projects and We are asking you to build a source of positive momentum.
The country’s Ministry of Housing and Urban-Rural Development and the National Financial Supervisory Authority said in a joint videoconference in late September that a “white list” was proposed to facilitate lending to struggling developers and curb broader market risks. He said tools like this need to be scaled up carefully.
According to the official documents of the meeting released on Wednesday, the two agencies will “strengthen oversight of whitelisted projects, remediate problematic projects, and increase loan issuance to meet the reasonable financing needs of real estate development.” I asked for something.
A whitelist is an itemized register of real estate projects or developers that are determined to be compliant and eligible for financial support. These projects are being given priority in the allocation of loans and other funding so that construction can continue and delivery deadlines can be met as part of a broader effort to stabilize the real estate market.
“This is a critical step in the fight to ensure the project’s delivery,” the conference synopsis reads. “Local task forces and financial institutions need to increase their sense of responsibility and urgency and expand the scope of the whitelist to ensure all compliant real estate projects are included.”
The agency also tasked national, state and local government officials with addressing “key issues” including judicial proceedings against insolvency projects, meeting annual delivery targets, managing unsold real estate inventories and eliminating idle properties. He urged continued focus on addressing the issue. land.
