The developer capital chain tightens the foreign capital to borrow the regulation the Machine Layout China property market

The developer funds the chain tightens, the hand of help reaches the foreign ——— foreign capital to borrow the adjustment and control the machine layout China property market Big Six months of real estate control measures after the promulgation, although the price did not obviously fall, but the real estate enterprise capital chain because of the credit policy and stretched very tightly. Recent signs of a renewed contraction in credit policy suggest that banks are also starting to tighten lending again, and AgBank has stopped issuing a third set of mortgages and has completely stopped developing loans.　　At this time, a only hand to help the foreign capital market, in the domestic credit crunch, with BlackRock-led overseas capital curve into the Chinese real estate industry, giving the real estate companies to bail out, actually take the opportunity to intervene in the Chinese market. In the background, developers rush to raise capital to reach out. "One side is the property market sound gradually sounded and brought about a significant rebound in recent turnover, while the two regulatory concerns are escalating and accompanied by signs of policy increase."　　Said Ye Tan. According to the latest statistics of the Central Plains real estate, mainland housing enterprises to purchase land area 6.9442 million square meters, down 28.4% year-on-year.　　From the transaction price, the land market gradually tend to rational. On the other side, at a time when the land price is getting lower, the National Bureau of Statistics announced the "January-July state of the real estate market operation", showing the July National 70 large and medium-sized cities sales price rose 10.3% Year-on-year, the chain and last month flat. In the first week of August, the average price returned to 23,000 yuan/square meter in Shanghai city, return to the level before the new deal. In the second week of August, the second-hand housing market in Guangzhou and Shenzhen has many owners to increase prices.　　This is the regulation of three months rare, some analysts believe that the market has fully digested the negative impact of real estate policy, began to hit bottom rebound. In the face of such a pattern, domestic property developers have to raise money everywhere to solve the current liquidity difficulties. Some real estate companies will look to the financing of small, more expensive trust funds, but also many housing companies directly to foreign investment banks out of the hands of help, but analysts pointed out that these channels of capital costs than the general domestic bank credit is much higher.　　Homes cheap and convenient way, and to seek the cost of high and complex forms, the present status quo, can only show that real estate business capital chain is really tight. The phenomenon of overseas private equity capital curve into the domestic property market has been reported that Blackstone Group, the US private-equity investment giant, has reached an agreement with Hong Kong's big real Estate Eagle Group, which has agreed to provide financial support to Hong Kong Eagle to build luxury hotels and high-end apartments in a joint venture to develop Eagle-June's land in Dalian in 2009. Thus, the market has aroused the concern of foreign investment in China's real estate market. In fact, as early as June 2008, Blackstone invested in the first China real estate project, in exchange for 1.017 billion yuan for Shanghai Longevity Commercial Plaza 90% stake.　　After two years, Blackstone once again saw the opportunity to enter China's high-end residential market. Earlier this year, UBS and the Golden Land Group launched the first phase of real estate fund fund-raising ended. This one fromThe dollar funds raised in Europe and Central Asia will be invested in residential development in China's first-tier cities and some of the second-half cities. In fact, the domestic real estate market enthusiasm is not only the black stone, many international investment companies, including Goldman Sachs, Macquarie, UBS, Merrill Lynch, Warburg Pincus, SoftBank Asia, Carlyle Investment, and Cade, have entered into the domestic real estate industry in different forms, such as private equity investment, project investment and property investment.　　Domestic real estate companies have also begun to issue debt to overseas investors, such as the country garden in the near future to the overseas market issued 400 million U.S. dollars in five-year priority bills. July 12, Agile Real Estate Holdings Limited sold its 30% stake in the company's crown, won the buyer Morgan Stanley 5.28 billion yuan transfer; as of June 29, Evergrande landed $506 million by private equity and invested in the Hong Kong New World Development company chairman, Tung, 5 other institutions, such as the Investment authority of the Middle East, Deutsche Bank and Merrill Lynch.　　"Offshore property and equity trading is hotter than ever," said Zhang Hua, president of the Golden Land Group. Analysis and control policy has not yet been made to foreign investment just "ant move" type of early layout state securities real estate analyst Fang said, in fact, China in the 2006, 2007, there is a strict restrictions on foreign investment in domestic real estate regulations, only to 2008 years related to the regulation and relaxed. Generally speaking, many foreign capitals are easier to invest in China's real estate market through participating in equity and setting up funds.　　In addition, because of our country's control of these funds, large investment must be reported to the foreign authority, many companies will also take the way ants move to invest in the layout. In fact, as early as 2006, 2007, China's foreign capital into the real estate has strict restrictions, by the Ministry of Construction, the Ministry of Commerce and other 6 ministries issued the "on the regulation of foreign investment in the real estate market access and management" provisions, do not restrict foreign-funded real estate enterprises from domestic financing, However, foreign-invested real estate enterprises that prohibit total investment of 10 million US dollars and above are borrowing more than 50% of their total investments.　　Document 130th stipulates that foreign investment in domestic real estate enterprises will not deal with foreign debt registration and foreign debt settlement approval formalities. Yixianrong, a researcher at the Institute of Chinese Academy of Social Sciences, said yesterday that foreign investors could not come in and that the country had 171th documents and 130th documents prohibiting foreign investment in China's real estate market. "At present only a few, relative to the domestic real estate market is not important, is not a copy of the bottom." Now also cannot say is the bottom, the domestic real estate also must control for several years, the control policy only then has promulgated 20%, still has 80% not promulgated, now the foreign capital also cannot affect the regulation effect. "Fang also believes that the current foreign funds into the Chinese real estate market should belong to the case, for specific projects to consider, does not represent the overall bullish foreign investment in China's real estate market." "Now the regulatory policy is still in place, the current market bubble is stillVery large, foreign capital can not be a copy of the behavior. "The impact curve is not enough money to affect the real estate market and industry concerns, at present, the domestic real estate control policy thinking, mainly hope that through the bank, the capital market to tighten the way of the gate, compressed domestic developers funds to force it to speed up the push to cash, increase market supply, so as to curb the rapid rise in prices.　　At present, the inflow of foreign capital into domestic real estate, equivalent to help real estate enterprises to solve the financial dilemma, this agent regulation hikes will be easily resolved? "As far as I know, the current foreign investment in the domestic real estate market is there." Foreign investment in mansions may be due to domestic prices relative to the international low, the future development. There are also foreign investors out of the real estate market. The recent foreign capital in the domestic real estate market frequent activities, whether it will affect the effect of real estate regulation depends on the amount of how much, if the entry will indeed give the real estate market hit a strong heart needle. "Famous economic commentator Tan said to our correspondent, however, the National Ministry of Commerce data show that this January-July, foreign direct investment in real estate development and urban fixed assets development investment total of 24.8 billion yuan, up 10%. The total investment of real estate development and urban fixed assets development in the first 7 months was 30.2 billion yuan, up nearly 11%.　　Only the month of June, the amount of capital used in foreign capital reached 8.091 billion yuan, more than the sum of 4 May. "This amount relative to domestic real estate loan total, foreign investment is very small, the impact on the real estate market is not big, not compared with domestic credit scale."　　"Fang said. Nanfang Daily reporter Huang intern wangxia ABC suspend real estate development loan is misreading South Daily News (reporter Huang Lu Yi intern Wangxia) The recent real estate control policy tightly affects the nerves of the market, the loan news is the focus of attention. Recently, the spread of ABC and CCB have suspended real estate development loans. Yesterday, reporters on the matter to the banks to verify that the Agricultural Bank of Guangdong branch of the relevant officials said did not stop lending, just for structural adjustment. And the four major state-owned banks in the construction Bank, ICBC and Bank of China have not received a notice of stop lending.　　Analysts say a moratorium on development loans is misreading. Recently, some media reported that Agricultural Bank officially issued 23rd this month, the moratorium on real estate development loans, land development loans, operating property loans for about a week, September began to resume normal launch of development loans. There are also brokers said that CCB has issued a notice, decided to suspend the issuance of corporate real estate loans, and reported on the loan situation.　　There are speculation about whether banks will regulate themselves or the window of the regulatory department. Yesterday, the reporter on this matter to the state-owned four lines to verify, "ABC This is only in accordance with the requirements of the Banking Regulatory Commission to the real Estate customer division." The qualified and supportive class is placed; the attention class, the suspicious class should be cautious. "The CBRC has asked banks to classify them earlier this year," said one of the bank's responsible sources.CCB, ICBC and BoC said they had not been notified of the moratorium on development loans. The famous economic commentator, Tan, said yesterday that "CCB has been more cautious in real estate loans, and it is normal to suspend development loans." and AgBank in real estate loans has been relatively radical, it may be in the previous period of agricultural Bank development loans too much, the accumulation of risk is high by the regulatory department named. Haitong Securities analyst also told reporters, "ABC Moratorium on the development of loans may be misunderstood by the outside, it may just make some structural adjustment." It's just a week's time to pause. On the other hand, the risk of real estate loans remains worrisome. Banks ' lending to real estate developers is still growing, and non-performing rates in development loans are rising.