Indemnificatory rental housing loans are no longer included in the concentration management of real estate loans
On February 8, the people’s Bank of China and the Bank Of China Limited(601988) Insurance Regulatory Commission issued the notice on excluding the loans related to indemnificatory rental housing from the concentration management of real estate loans, which made it clear that the loans related to indemnificatory rental housing projects were not included in the concentration management of real estate loans, and encouraged banking financial institutions to comply with laws and regulations, control risks Based on the principle of commercial sustainability, increase support for the development of affordable rental housing.
According to the central bank and the China Banking and Insurance Regulatory Commission, it is clear that the loans related to affordable rental housing projects are not included in the concentration management of real estate loans, which is conducive to the banking financial institutions to increase the credit supply of affordable rental housing projects, support the construction of China’s housing security system, and promote the establishment of a housing system with multi-body supply, multi-channel security and simultaneous rental and purchase. It is conducive to continue to increase financial support for the construction of affordable housing and the development of long-term rental housing market, and promote the virtuous cycle and healthy development of the real estate industry.
On the whole, in the real estate loan concentration management system, according to the banking institutions, it is divided into five grades: large Chinese funded banks, medium-sized Chinese funded banks, small Chinese funded banks, non County Rural cooperative institutions, county rural cooperative institutions and rural banks. The upper limit of the proportion of real estate loans is 40%, 27.5%, 22.5%, 17.5% and 12.5% respectively, while the upper limit of the proportion of individual housing loans is 32.5%, 20% respectively 17.5%, 12.5% and 7.5%. The notice stipulates that affordable rental housing loans will no longer be included in the centralized management, which is the rationalization of the structure of financial credit, is also conducive to promoting the increase of affordable rental housing credit, and is conducive to the supply of affordable rental housing. According to the Ministry of housing and urban rural development, the supply of affordable rental housing will be greatly increased in 2022, and 2.4 million affordable rental housing units will be built and raised throughout the year, which is 1.5 times higher than the task in 2021, accounting for 37% of the overall goal of the 14th five year plan. Affordable rental housing is expected to usher in explosive growth in 2022. Overall, it is good for industries related to “steady growth”, such as infrastructure, real estate and large financial sectors.
Increase in financing balance. On February 7, the balance of A-share financing was 1623.782 billion yuan, an increase of 3.544 billion yuan month on month; The balance of margin trading and securities lending was 1717.968 billion yuan, an increase of 4.801 billion yuan month on month. The balance of financing minus securities lending was 1529.595 billion yuan, an increase of 2.287 billion yuan month on month.
Net outflow of funds to the north. On February 8, the net purchase transaction of land stock connect on that day was -817 million yuan, including 56.706 billion yuan of purchase transaction and 57.523 billion yuan of sales transaction, with a cumulative net purchase transaction of 1656.087 billion yuan. Hong Kong stock connect had a net purchase transaction of HK $1.409 billion on the same day, including a purchase transaction of HK $15.277 billion and a sale transaction of HK $13.868 billion, with a cumulative net purchase transaction of HK $2231.432 billion.
Money market interest rates fell. On February 8, Bank Of Shanghai Co.Ltd(601229) inter-bank offered rate Shibor overnight interest rate was 2.0440%, down 6.80bp, Shibor one week was 2.0870%, down 1.50bp. The weighted interest rate of pledged repo of deposit institutions was 2.0137% overnight, down 9.43bp and 2.0656% a week, down 2.42bp. The 10-year maturity yield of China national debt was 2.7227%, down 0.29bp.
Most of the three major U.S. stocks rose, while European stock markets fluctuated. On February 8, the Dow Jones Industrial Average closed at 35462.78 points, up 1.06%; The S & P 500 index closed at 4521.54 points, up 0.84%; The NASDAQ index closed at 14194.46, up 1.28%. European stock markets, French CAC index closed at 7028.41 points, up 0.27%; Germany’s DAX index closed at 15242.38 points, up 0.24%; The FTSE 100 index closed at 7567.07, down 0.08%. In the Asia Pacific market, the Nikkei index closed at 27284.52 points, up 0.13%; The Hang Seng Index closed at 24329.49, down 1.02%.
The dollar index rose. On February 8, the dollar index rose 0.21% to 95.6095. The euro fell 0.22% against the dollar to 1.1417. The dollar rose 0.39% against the yen to 115.5450. The pound rose 0.07% against the dollar to 1.3547. The spot exchange rate of RMB against the US dollar closed at 6.3688, depreciating by 0.17%. The spot exchange rate of RMB depreciated by 64.08% against the US dollar to close at 360.08%. The central parity rate of RMB against the US dollar closed at 6.3569, up 0.02%.
Gold rose and crude oil fell. On February 7, Comex gold futures rose 0.69% to close at US $1821.20/oz. WTI crude oil futures fell 0.32% to close at US $91.63/barrel. Brent crude oil futures rose 0.46% to close at US $92.95/barrel. COMEX copper futures fell 0.49% to close at US $4.4840/lb. LME copper three-month futures fell 0.25% to close at US $9850 / ton.
