The China Banking and Insurance Regulatory Commission and the Ministry of Housing and Urban-Rural Development jointly issued a notice on further playing the role of urban real estate financing coordination mechanism to meet the reasonable financing needs of real estate projects. The purpose of the notice is to propose multiple feasible and practical measures to optimize and improve the urban coordination mechanism, and to strengthen the efficiency and quality of project promotion, support the reasonable financing needs of real estate projects more accurately, and promote the stable and healthy development of the real estate market.

The notice mentioned that it is necessary to improve the urban coordination mechanism, require the responsible personnel of the city coordination mechanism to control the access to the "white list" project, implement the push feedback management of the "white list" project, actively meet the reasonable financing needs of the "white list" project, and grant loans to eligible projects. It is necessary to promote the individual accounting and closed operation management of the "white list" project, and strictly prohibit the diversion of project funds.

The notice requires financial institutions to evaluate the financing needs of the "white list" project based on market-oriented and legal principles, conduct independent review and decision-making, and assign the responsible bank for subsequent financing of a project, which should establish a green channel and may have a special credit line. Financial institutions need to formulate specific implementation rules for due diligence exemption according to the notice.

It is reported that the two departments have jointly established a working group, and corresponding working groups will also be set up in various provinces and cities. The next step will continue to promote the implementation of the urban coordination mechanism, fully support the financing and construction delivery of real estate construction projects, strongly guarantee the legitimate rights and interests of home buyers, and promote high-quality development of real estate.