China Construction Engineering Group, Zhonghua Enterprise, Lujiazui Group, Yongye Group, Shui On Land, Hong Kong Land and Seazen Holdings are concerned [Construction Engineering Group、Chinese enterprises、Lujiazui Group、Yongye Group、Shui On Land、Hongkong Land, Seazen Holdings].
Xiamen (6 december), Wuhan (8 december), Foshan (9 december) we successively introduce relaxation of regulations relating to the purchase of real estate. These measures respond to dissatisfaction shared by all tier cities 2 and lower than new home sales.
Zhou Junqiang, Company CEO : « Weilingdi will adhere to the company's mission to "enable young people to live better ». In other words, pursue the programmatic line of the government in exchange for an intentional line of credit from the Bank of China.
Weilingdi is one of Shanghai's leading real estate developers.
80 real estate companies took advantage from a total of 409 millions of euros opened by banks in the form of credit, since november [16Financial]. The banks in question include : them banks urban commercial and rural commercial banks of Henan, du Guangxi, de Guangzhou, de Foshan, de Dongguan, de Huizhou, de Zhuhai
The CRIC (Kerry) organized a conference to determine the TOP100 of the best real estate companies, based on the quality of the products delivered. Greentown China [Greentown China] is at the top of the list, while Longfor Group [Longfor Group] et Vanke Real Estate [Vanke Real Estate] ranked second and third respectively. According to CRIC, Chinese consumers are particularly attentive to delivery times, which is understandable after the multiple delays that have followed since 2020.
Hengchi Automobile [Hengchi], a subsidiary of China Evergrande Group, reported large-scale work suspension and wage arrears. Hengchi Automobile announced that 25 % of its employees have been suspended, without pay, for one to three months.
The real estate investment giant ProLogis has announced that it has invested 2,7 billion euros in new infrastructure projects (logistics real estate and industrial parks). CapitaLand, Blackstone Group, Sequoia China and Hillhouse also deployed logistics and real estate activities this year.
Insiders: real estate investment trusts (FPI) on the secondary market now represents a “way out” for investors, where the traditional real estate sector continues to fall in China.
Land sales by local governments have fallen from 25% on the 10 last months, according to official statistics. real estate represents 1/3 of provincial tax revenue in China. The contraction of domestic consumption and the difficulties encountered by promoters are putting public finances in difficulty.
China Evergrande Wealth announced that the current monthly payment of 8 000 yuan per person will be adjusted to 2 000 yuan. Sources believe the adjustment to the payment plan means Evergrande Wealth faces great difficulty in disposing of its assets supposed to meet the company's abysmal debt.
La China Securities Regulatory Commission published five measures to adjust and optimize the equity financing of real estate companies:
Insiders: these measures increase the financing channels available to real estate companies. The end goal is to allow eligible real estate companies to restructure and become public.
The High Court of Hong Kong has again postponed the hearing of a motion for liquidation of China Evergrande, giving more time to Evergrande's debt restructuring plan, long awaited. The hearing is scheduled for 20 mars 2023. The request is made by Top Shine Global (Top Shine Global) in June 2022.
According to a CICC report [China International Financial Group, one of China's leading investment banks], the selling area and value of commercial housing nationwide could increase by 2 % et 5 % in between 2022 et 2023.
This credit is intended for the construction of new real estate and to allow mergers and acquisitions. Reported by China Securities Journal.
12 real estate companies including Vanke Group, Gemdale Group, Greentown China, Longfor Group, Country Garden Group, Midea Real Estate, Jinhui Group have signed pour 87,3 billion euros borrowed from ICBC to finance building construction.
The People's Bank of China [The People's Bank] and China Banking and Insurance Regulatory Commission [Banking and Insurance Regulatory Commission] publish: “Opinion on doing a good job in the current financial support for the stable and healthy development of the real estate market” [Notice on doing a good job in the current financial support for the stable and healthy development of the real estate market]. 16 measures are contained, among:
The People's Bank of China [peoplebank] and China Banking and Insurance Regulatory Commission [Federation of China Banking and Insurance Regulatory Commission] organized a conference around the credit granted by commercial banks. The findings are : support the real estate industry, maintain consistent credit for promoters [Loans for construction companies] as for individuals [Support the reasonable needs of individual housing loans].
The municipality invoked its right to “cancel the right to use unused state-owned construction land” to resume 11 parcels of land in Evergrande where construction is interrupted, without financially compensating the group (estimated value: at least 800 millions of euros).
Since the beginning of this year, at least 115 cities reduced to 20 % advance payment to the bank for the purchase of a first property. Among them: Chengdu dans le Sichuan, Shijiazhuang dans le Hebei, Xi'an dans Shaanxi, Taiyuan au Shanxi, Changchun au Jilin et Fujian.
The interest rate on real estate loans to individuals has also reached a historic low..
January to October, the area of housing units completed by real estate development companies decreased by 18,7 %, according to the Office. Regions must adhere to the principle of purchase for housing, not speculation, selon son porte-parole Fu Linghui – Fu Linghui
The three second-tier cities have in turn published opinions allowing non-native residents of the city (no Hukou) to buy second-hand real estate, in order to revitalize a sector in turmoil.
Agile Group [Agile Group] (97 millions of euros) et Country Garden [country garden] (unknown amount) plan to raise funds by allocating shares, under the “second arrow” of the Chinese law of 2018 on the financing of real estate developers. Likewise, Longfor Group [Longfor Real Estate] et Seazen Holdings [Seazen Holdings] managed to finance themselves recently beyond 1,4 Billions of Euro's.
There have been 25 events revocation of the rating of real estate companies since June 2022 : Jinhui, R&F, Xincheng, Evergrande, CIFI, etc.
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