① Central Bank Governor Pan Gongsheng said that he supports high-quality housing enterprises to revitalize their existing assets, expand the scope of use of capital, and improve liquidity conditions. ② According to the Capital Securities Research Report, policy easing is close to the 14-year level, and the current environment is favorable to leading local state-owned enterprises with market-based competitiveness.
Central Bank Governor Pan Gongsheng said at the press conference of the State Information Office on January 24 that recently, the People's Bank of China, together with the General Administration of Financial Supervision, will introduce policies to improve operating property loans for real estate companies, support high-quality housing enterprises to revitalize their existing assets, expand the scope of use of capital, and improve liquidity conditions. Subsequently, the General Office of the People's Bank of China and the General Office of the General Administration of Financial Supervision jointly issued the “Notice on Accomplishing the Management of Operational Property Loans”. The notice states that in principle, the loan amount for operating properties must not exceed 70% of the assessed value of the loaned property.
The share of 23Q4 public funds and real estate holdings of Northbound Capital declined. The market value of the former's holdings fell 24% month-on-month, the lowest since 2013, while the latter fell 18% month-on-month, and the holding ratio continued to hit new lows since 2017. According to the Capital Securities Research Report, policy easing is close to the 14-year level, and subsequent improvements to the three major projects and urban villages are expected to boost investment. The development of urban villages and guaranteed housing is more conducive to leading local state-owned enterprises with market-based competitiveness.
According to the Finance Federation's theme library, among the relevant listed companies:
Poly Development specializes in real estate development and sales. It is a main and two-wing comprehensive real estate development enterprise focusing on real estate development and operation, real estate finance and community consumer services. Its products are mainly high-end boutique residences and urban landmark commercial properties.
Tiandi Yuan is the only listed real estate company in Shaanxi, forming a national collaborative development strategy integrating real estate development, real estate operation, smart services, and financial services.