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the state council information office held a press conference this morning.pan gongsheng, governor of the people's bank of china, li yunze, director of the state financial regulatory administration, and wu qing, chairman of the china securities regulatory commission, attended the meeting and introduced the relevant situation of financial support for high-quality economic development.

at the meeting, a reporter asked, "at the beginning of this year, we saw the establishment of a new urban real estate financing coordination mechanism. i would like to know what the latest progress and results are? what other work considerations and new measures do we have for the next step?"‍

li yunze photo source: guoxin.com

in this regard, li yunze said,the stable and healthy development of the real estate market is related to the overall economic and financial situation and the vital interests of the people. in recent years, the supply and demand relationship in my country's real estate market has undergone major changes. the continued slowdown in sales has led to tight liquidity for real estate companies, and some sold and under-construction projects are difficult to deliver on schedule.

in order to solve this problem, the financial regulatory administration, together with the ministry of housing and urban-rural development, established a coordination mechanism for urban real estate financing.the biggest feature of this mechanism is that it is "based on cities and centered on projects".differentiate the risks of real estate development groups from the construction of real estate projects, give full play to the coordinating role of local governments, include compliant projects under construction and sold into the project "white list", guide financial institutions to meet the reasonable financing needs of real estate projects, promote project completion and delivery, and effectively protect the legitimate rights and interests of the majority of home buyers.‍‍‍

with the joint efforts of all parties, the urban coordination mechanism has achieved good results. so far, commercial banks have approved more than 5,700 "white list" projects, with a financing amount of 1.43 trillion yuan, supporting the timely delivery of more than 4 million housing units. driven by the coordination mechanism, financial institutions are also continuously expanding their support for the real estate industry.as of the end of august, our real estate development loans this year achieved positive growth compared with the beginning of the year, reversing the downward trend of real estate development loans.real estate merger and acquisition loans and housing rental loans also increased by 14% and 18% respectively, providing strong financial support for promoting the stable and healthy development of the real estate market.

at the same time, in order to actively support rigid and improved housing demand, the financial supervision administration, together with the people's bank of china, will guide local governments and financial institutions to adjust relevant real estate financial policies based on their own situation.financial supervision administrationwe will also cooperate with the people's bank of china to actively promote the steady reduction of interest rates on existing mortgage loans to further reduce residents' mortgage expenditures and enhance people's sense of gain.

"in the next step, we will resolutely implement the decisions and arrangements of the cpc central committee and the state council on real estate work, and further promote the implementation of the urban real estate financing coordination mechanism.we will ensure that "all that should be acquired is acquired," "all that should be loaned is loaned," and "all that should be released is released," and resolutely win the battle to ensure the delivery of houses, and promote the stable and healthy development of the real estate market."li yunze said.