What are the ＂hard moves＂ to stabilize the property market this year？ Look at the real estate regulation ideas in 2018

　　Xinhua News Agency, Beijing, February 11th: What are the "hard moves" to stabilize the property market this year — — Thoughts on real estate regulation in 2018 from departmental meetings

　　Xinhua News Agency reporters Wang Youling and Li Yanxia

　　Real estate regulation and control policies are closely related to the trend of the property market, and the society is highly concerned about this. Recently, some cities have cancelled the purchase restriction in some areas and introduced talents to live and buy houses, which has been misunderstood as "regulation loosening and turning", and the market sensitivity can be seen.

　　What is the "hard move" of the regulatory policy in 2018? Where are the key pieces to stabilize the property market? Recently, the Ministry of Housing and Urban-Rural Development, the Ministry of Land and Resources, the Central Bank and the China Banking Regulatory Commission held annual meetings one after another, in which the real estate regulation and control this year were all deployed.

　　The goal of regulation and control is unwavering and the intensity is not relaxed.

　　Lanzhou, Nanjing, Hefei and other places have recently made partial fine-tuning of the purchase policy, which has triggered the market’s infinite "reverie" that the real estate policy will be loosened.

　　In fact, directional cancellation of purchase restriction, providing policy support for high-level talents and renting houses are just the latest policy footnotes of "implementing differentiated control policies for various needs" in some cities. Strict control is still the policy keynote of all departments working together to maintain the stable and healthy development of the property market and adhere to the policy of "housing and not speculating".

　　"Insist on the goal of regulation and control, and the intensity will not be relaxed." The Ministry of Housing and Urban-Rural Development has made it clear that it is necessary to maintain the continuity and stability of the regulation and control policies of the real estate market and continue to strictly implement various regulation and control measures.

　　"Strict" is also reflected in the planning of residential land. The Ministry of Land and Resources said that land and resources are in an important position on the supply side. Residential land is guaranteed to have a place to live and cannot be used for speculation. It will strengthen classified regulation, make policies according to the city and place, and formulate a medium-term plan for residential land and a three-year rolling plan.

　　There are obvious differences in crowd demand and regional characteristics in China’s real estate market. The market situation is different among cities and regions, and even the housing supply and demand situation in different regions of a city is very different. In the past year, some third-and fourth-tier cities changed from inventory backlog to rising house prices, and some third-and fourth-tier cities still had large inventory.

　　In view of these differences, the Ministry of Housing and Urban-Rural Development stressed that it is necessary to do a good job in the classified regulation of the real estate market and promote the stable and healthy development of the real estate market. We will implement differentiated control policies for various needs to meet the first set of needs, support the improvement of demand, and curb speculative real estate speculation. It is necessary to strengthen market monitoring and analysis, improve the ability and level of precise regulation, and further strengthen the main responsibility of local governments. Some third-and fourth-tier cities and counties that still have more stocks should continue to do a good job of destocking.

　　Consolidate the long-term mechanism and deepen the reform of housing system

　　The five state-owned commercial banks of industry, agriculture, China, construction and communications have recently "tested the water" in the housing rental market in cities such as Beijing, Shanghai, Guangzhou, Shenzhen and Hangzhou, and e-commerce platforms such as Ali and JD.COM have become "new players" in the housing rental field … …

　　As an important aspect of the long-term mechanism construction of real estate, the "one pool of spring water" in the housing rental market is being activated by the increasingly perfect housing system design.

　　The Ministry of Housing and Urban-Rural Development said that it should adhere to the position that houses are used for living, not for speculation, and improve the long-term mechanism to promote the stable and healthy development of the real estate market. It is necessary to deepen the reform of the housing system and accelerate the establishment of a housing system with multi-subject supply, multi-channel guarantee and simultaneous rent and purchase.

　　The housing system reform of "multi-agent supply, multi-channel guarantee and simultaneous rent and purchase" is offering a "real move": the pattern of "government monopoly of housing land" will change, and real estate developers will no longer be the only provider of primary housing.

　　The Ministry of Land and Resources has made it clear that it will study and formulate the method of using the land that non-real estate enterprises have obtained the right to use according to law as residential land, deepen the pilot reform of using rural collective construction land to build rental housing, and improve the basic land system that promotes the healthy development of real estate.

　　The central bank’s working conference plans to improve the housing financial system and establish and improve the housing rental financial support system in 2018.

　　In order to fill the "short board" of housing leasing and clear the market obstacles, the Ministry of Housing and Urban-Rural Development will vigorously develop the housing leasing market, especially long-term leasing, accelerate the cultivation and development of the housing leasing market in large and medium-sized cities with net population inflow, promote the construction of state-owned leasing enterprises, support the development of specialized and institutionalized housing leasing enterprises, accelerate the construction of government-led housing leasing management service platforms, accelerate the promotion of housing leasing legislation, and protect the legitimate rights and interests of leasing stakeholders.

　　Preventing and Resolving Risks and Strengthening Real Estate Supervision

　　Credit funds borrow channels to finance real estate enterprises, and consumer loans become "down payment loans" and flow into the property market in disguise … … Although China has adopted many real estate control policies in recent years, there are still many funds flowing to the real estate market through various means, which has increased the leverage ratio and increased the market risk.

　　For the risks in the real estate market, effective supervision, prevention and resolution must be carried out to maintain the healthy and stable development of the real estate market. In the main tasks of the central bank and the China Banking Regulatory Commission in 2018, the supervision of real estate has been strengthened in preventing and resolving financial risks.

　　Asset markets such as real estate are naturally prone to leverage, with the characteristics of "buying up but not buying down", prone to procyclical fluctuations and overshoot, and need to be adjusted countercyclically according to this characteristic. The central bank proposed to strengthen the macro-prudential management of real estate finance in 2018, and the CBRC stressed the need to strictly control the illegal inflow of personal loans into the property market.

　　The healthy and stable development of the real estate market also depends on a good market environment. The illegal operation of institutions is bound to disrupt the normal market order. The Ministry of Housing and Urban-Rural Development has made it clear that it is necessary to intensify the standardization and rectification of the real estate market order, always maintain a high-pressure investigation situation, and severely crack down on illegal activities of real estate enterprises and intermediaries.