According to the arrangement of the State Council's special conference, on the morning of February 29, 2024, the Ministry of Housing and Urban-Rural Development and the General Administration of Financial Supervision jointly held a video scheduling conference on the work of the Urban Real Estate Financing Coordination Mechanism.

The conference emphasized that all regions should do a solid job in the financing coordination mechanism, focus on the quality of the “white list” of projects, focus on work progress, focus on project construction, and focus on publicity and guidance. According to the “everything should be built” principle of the coordination mechanism, before March 15, cities at prefectural level and above must establish a financing coordination mechanism, not only to complete the “white list” promotion with high quality, but also to coordinate and resolve difficult project issues with high efficiency. Projects must be screened in strict accordance with the standards, and a list of the first batch of qualified projects should be formed after confirmation by financial institutions.

Financial institutions should expedite reviews. According to the closed loop of “push-feedback” work, financial institutions promptly report problems existing in the project. The urban financing coordination mechanism must resolve them in an integrated manner as soon as possible, wait for the project to meet the conditions, then push it back to the financial institutions to jointly promote the implementation of financing as soon as possible. Provincial financing coordination mechanisms should supervise and guide urban promotion projects, and urge cities to remove unqualified projects from the “white list” in a timely manner. The Ministry of Housing and Urban-Rural Development and the General Administration of Financial Supervision will establish a joint dispatch and timely notification mechanism to regularly report on the implementation of the financing needs of each province and city. (China Real Estate News)