CICC looks at the second half of the property market

The CBRC listed real estate as a new risk point at the fourth annual China Financial Market Analysis meeting yesterday, Chu Jin, managing director of the China International Finance Corporation (CICC), said the country could not allow house prices to continue to rise, not optimistic about the second half of the real estate industry. In China's securities industry, China's International Finance Corporation is the industry leader, has been closely monitoring the real estate market. Chu Jin listed 4 of the second half of the industry is not optimistic, real estate ranked second. He argues that house prices are unlikely to sustain recent gains. At present, buyers are basically out of the improvement and investment needs, the basic home demand has been the current high prices excluded from the market.　　If only by rising prices to stimulate improved and investment demand, its economic pull is rather limited. In addition, he suggested, the housing bubble is not the same. In 2007, when house prices rose, the market said that "bubbles make sense because residents ' incomes are increasing", but that reason is now not tenable. The background of the current housing bubble is that residents ' incomes have not increased much, and that their savings are actually relatively limited.　　He argues that, in the light of the threat to the housing bubble, it is impossible for the country to keep house prices rising in the current trend. Morgan Stanley, China strategist Lou just more clearly pointed out at the annual meeting, in terms of fundamentals, the real estate has been to the "last bus" market, he does not recommend the real estate sector stocks.　　Like Chu Jin, he argues that the country is unlikely to tolerate a further 20% per 30% rise in house prices, which are highly sensitive to policy. At the economic and financial briefing held by the China Banking Regulatory Commission in Friday, the CBRC's chairman, Mr Liu, listed the real estate market risk as a new risk point for the banking industry. He said that the future banks will strictly enforce the "two-suite" standard and the ratio of home mortgage loans to the first payment and loan rates, for investment housing to adhere to the first Kang Gaocheng number, the interest rate strict risk pricing and credit strict review of the principle of strict implementation of the borrower 100% "interview", "Face sign" system to prevent "fake mortgage" and "false down payment" Phenomenon。