China's real estate market activity increases, key indicators improve
2024-08-14
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China News Service, Beijing, August 13 (Reporter Xia Bin) The People's Bank of China released the latest financial data on the 13th. An authoritative person told China News Service reporters that the financial support for key areas is stable and the credit structure continues to be optimized. Among them, the effect of financial support policies for the real estate sector has gradually emerged, and the activity of the real estate market has increased.
Authoritative sources said that the financial sector has increased its support for the real estate sector. In order to support the stable and healthy development of the real estate industry and prevent the spread of risks in the real estate market from dragging down the macro-economy, the People's Bank of China launched a combination of real estate policies in May, taking pragmatic measures in reducing mortgage interest rates, lowering the down payment ratio for home purchases, and supporting real estate inventory reduction.
An authoritative source bluntly stated that recently, the decline in key indicators such as the national commercial housing sales area, sales revenue, newly started housing area, and funds in place for real estate developers have narrowed, the online signing area of second-hand houses has increased year-on-year, and the transaction area in first-tier cities grew rapidly in June.
In addition, financial data showed that direct financing has accelerated and the macro financing structure has continued to improve. Authoritative sources said that in order to adapt to the needs of China's economic structural transformation and upgrading and high-quality development, the financial system should focus on properly grasping the relationship between the two largest financing markets, bonds and credit, promote the establishment of a diversified financing system, promote the accelerated development of direct financing, and consolidate the support for the real economy through multiple channels.
Industry experts also believe that as China's economic structure accelerates transformation and upgrading, with the financial stock already large, this year, against the backdrop of weak effective credit demand, the growth rate of the social financing scale indicator, which comprehensively reflects the financing support obtained by the real economy through various channels, has remained stable, showing a certain degree of resilience, and also reflecting the substitution effect between direct financing and bank credit. (End)
(Source: China News Network)
