industrial bank shanghai branch actively responded to the real estate coordination mechanism to support urban renewal and other livelihood projects
2024-09-13
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in january 2024, the ministry of housing and urban-rural development and the state financial supervision administration jointly issued the "notice on establishing a coordination mechanism for urban real estate financing". industrial bank shanghai branch actively responded, adhered to the positioning of housing for living and not for speculation, and actively supported urban renewal, old district renovation and other livelihood projects.
in terms of the implementation of the real estate financing coordination mechanism, the shanghai branch of industrial bank has refined financial support in accordance with the principles of marketization and rule of law, enriched financial products and tools, and met reasonable financing needs. strengthen credit support, and arrange credit according to the general principles and progress requirements of the projects on the list and the subsequent funding gap of the projects. for projects that are temporarily in difficulty but can balance their funds, we will never blindly withdraw loans, cut off loans, or suppress loans, and support them through the extension of existing loans, adjustment of repayment arrangements, and new loans. strengthen approval support, establish a credit green channel for projects that meet the credit conditions, optimize the approval process, shorten the approval time limit, and actively meet reasonable financing needs.
in terms of rental housing, in order to firmly implement the "opinions on accelerating the development of affordable rental housing" issued by the general office of the state council and deeply practice the important concept of "the people build the city, and the city is for the people", industrial bank shanghai branch has increased its support for affordable rental housing with financial strength, exerted the joint efforts of government and banks, and introduced financial liquidity to help the implementation of the "rental and purchase" policy, actively participated in cultivating the housing rental ecology, increased credit support for affordable rental housing, and always took housing rental as a strategic business layout and promotion. as of the end of august 2024, the bank has approved a total of 21 guaranteed rental housing projects, covering 10 districts in the city including huangpu district, jing'an district, and minhang district, and has provided credit support for 14 guaranteed rental housing projects, with a balance of 3.427 billion yuan.
in terms of urban renewal, in recent years, industrial bank shanghai branch has continued to exert its strength in the field of urban renewal, increased credit supply, and accelerated the construction of a new urban development pattern with practical actions, and participated in the zhangyuan plot renovation project in jing'an district, the yuyuan plot renovation project in huangpu district, the dongjiadu plot renovation project, the huaxing new town renovation project in jing'an district, and the zhaojialou urban village renovation in minhang district. as of the end of august 2024, industrial bank shanghai branch has approved a total of about 50 billion yuan in urban renewal loans in shanghai, with a loan balance of about 20 billion yuan. the relevant funds have effectively supported multiple old district renovation projects in shanghai, effectively safeguarded and improved people's livelihood, and helped the city renew.
in the next step, industrial bank shanghai branch will further play the role of the urban real estate financing coordination mechanism, actively meet the reasonable financing needs of developers, vigorously support the construction of "three major projects" such as affordable housing, and contribute financial strength to the stable and healthy development of the shanghai real estate market.
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