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Party newspaper: Seven ministries join hands to manage chaos in the property market, leaving no room for speculation in the property market

June 30, 2018 07:50
source: People's Daily Overseas Edition
edit:Oriental Wealth Network

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Summary
[People's Daily Overseas Edition: No room for speculation in the property market] In recent days, the Ministry of Housing and Urban Development, together with the Central Propaganda Department, the Ministry of Public Security, the China Banking Regulatory Commission, and other ministries and commissions, jointly issued and issued the “About the first steps to crack down on violations of the interests of the people in some cities to tackle the real estate market. As the notice of the special action, it was decided that in early July to the end of December 2018, special actions to control chaos in the real estate market should be carried out in 30 cities including Beijing, Shanghai, Tianjin and Shenzhen. In this regard, analysts believe that this action is not only part of the real estate market in response to the rise of the signs and long-term accumulation of prostitution, but also shows that "the house is used to live, not used to fry" this position will not change. Therefore, any illusion that China has taken the initiative to relax the regulation of the property market and allow speculators to take advantage of it is unwise. (People's Daily Overseas Edition)

Recently, the Ministry of Housing and Urban Development jointly with the Central Propaganda Department, the Ministry of Public Security, the China Banking Regulatory Commission and other ministries and commissions jointly issued the "Notice on Launching a Special Action to Crack Down on Laws and Violations of the Interests of the Masses in the Treatment of the Real Estate Market in Selected Cities", which was decided at the beginning of July 2018. By the end of December, 30 cities such as Beijing, Shanghai, Tianjin, Shenzhen and other cities have taken the lead in carrying out special operations to control chaos in the real estate market. In this regard, analysts believe that this action is not only part of the real estate market in response to the rise of the signs and long-term accumulation of prostitution, but also shows that "the house is used to live, not used to fry" this position will not change. Therefore, any illusion that China has taken the initiative to relax the regulation of the property market and allow speculators to take advantage of it is unwise.

 Seven ministries jointly manage the chaos in the property market

As the saying goes: “There is no rule and no circle.” The real estate market is related to the stable development of the economy and the well-being of people's livelihood.

According to the "Notice" jointly issued by seven ministries and commissions such as the Ministry of Housing and Urban-Rural Development, this special action mainly includes four aspects: First, combating the manipulation of housing rents, selling goods and reluctant sellers, fabricating false information, fabricating house illusions, driving up prices, and violating regulations." "Down payment" and other speculative real estate gangs; the second is to crack down on the illegal sale of tenants, bundled fees, yin and yang contracts, mandatory provision of agency services, infringement of customer funds, real estate speculation in the real estate "black intermediary"; third is to combat illegal sales, Disguised fare increase, one-room multi-selling, Overlord Clause, price fraud, and restrictions on impeding the use of provident fund real estate development companies; four is to crack down on false real estate listings and price information, false promises and other fraudulent misleading buyers of real estate ads.

The "Notice" requires that mass supervision should be widely launched, people should report channels for complaints, and typical cases with strong public opinions and outstanding problems should be listed and supervised. The result of investigation and punishment should be announced in a timely manner, respond to social concerns, and strive to build a situation in which the real estate market is co-governing.

At the same time, the relevant person in charge of the National Development and Reform Commission also pointed out that in the past two years, some companies, especially real estate, local government financing platforms and other corporate foreign debt issuance has increased. The competent department hopes to encourage enterprises to use foreign debt to raise funds to support innovation and development, green development, emerging industries, and high-end manufacturing industries.

"Do not live in the house" The tone remains unchanged

“On the one hand, the real estate market affects many areas such as building materials, decoration, home furnishing, and finance. It plays a decisive role in the smooth and healthy operation of the economy. On the other hand, real estate is also an important livelihood area and it is related to the lives of millions of households. With a high degree of attention, the property market in various parts of China has indeed exposed many problems and hidden dangers in the recent period. Therefore, it is necessary for relevant competent authorities to promptly deal with market chaos and corruption, which is very necessary.” Renmin University of China, Finance and Finance Zhao Xijun, deputy dean of the college, said in an interview with this reporter.

In the view of market participants, the recent incitement of the real estate market in some areas has a lot to do with the talent attraction policy. The data shows that more than 35 cities issued more than 40 talent attraction policies in the first 5 months of 2018.

Centaline ChiefAnalystZhang Dawei analyzed that most of the current city’s talent policies can be settled directly, lowering the threshold for home purchases, bringing about the expected rise in the real estate market, and increasing the possibility of real estate speculators taking advantage of talent policies to take the opportunity to speculate. Zhang Dawei believes that attracting talent cannot simply become an attraction for homebuyers.

In fact, after discovering that the talent policy may bring opportunities to real estate speculators, many cities have further introduced detailed rules to further highlight the basic position that “houses are used to live, not used for speculation”. . For example, Changsha proposes that commodity housing purchased by individuals within the restricted purchase area must obtain a certificate of immovable property for 4 years before it can be listed and traded; Xi'an’s latest regulation and control policy requires that it be suspended from enterprises and institutions and other areas within the scope of housing purchase restrictions. Institutions sell commodity housing and second-hand housing.

Healthy development is beneficial to the long-term

Not long ago, the "Chinese Housing Market Development Monthly Analysis Report" released by the Chinese Academy of Social Sciences showed that from January to May 2018, real estate control policies were introduced 159 times across the country. Experts predict that the regulation and control of the property market will continue to show a tightening trend in the second half of the year, and the accuracy of control will be further enhanced.

The seven-ministry's control of the property market chaos includes such first-tier cities as Beijing and Shanghai, as well as a large number of second and third-tier cities such as Xi'an and Yichang. Yan Yuejin, research director of the Think Tank Research Center at the Yiju Research Institute believes that this fully demonstrates that there is no sign of relaxation in the current regulation of the property market. Local governments should not slack off. Instead, they must actively manage it and let the real estate market enter a stable development trend.

“Today, China has a clear positioning for the real estate market, that is, to meet the actual needs of living, rather than speculation. In practice, all kinds of chaos in the real estate market has pushed residents to buy or rent a house for living. Cost, resulting in a small number of groups profit, while the supply and demand relationship is distorted, market prices are distorted, and market expectations are chaotic. The Ministry of Housing and Construction and other ministries and commissions jointly administer the issue, which is the source of the Swordsman problem, clearing the evils, and ultimately promoting the healthy development of the real estate market.” Zhao Xijun said .

At the same time, the People's Bank of China’s Monetary Policy Committee recently stressed again at the regular meeting of the second quarter of 2018 that "a sound monetary policy remains neutral", "to manage the total supply gate", and "to optimize the financing structure and credit structure" Policy Keynotes such as Financial Services Entity Economic Capability. Analysts believe that this also releases the signal for stable real estate regulation.

                (Editor: DF392)

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