Archive for February, 2008

Industrial land price system variable Beijing seeking industrial land prices will rise

Recently, the Ministry of Land and Resources issued a "Please provide cities and towns on the land application of other related materials notice." Which proposed to change the current national minimum standards throughout the land price at the same level "across the board" status quo, in the land classification on the basis of pricing, consider joining regional differences in land prices.
It is understood that last year from January 1 implementation of the "National industrial land transfer lowest standards", the Ministry of Land and Resources clear minimum standards for industrial projects such as land price and the other linked policies. In the other land developed on the basis of the lowest standard, with the other land has obviously reduced the downward trend of first-class standard corresponding to the lowest (840 yuan / m 2) 15, etc. (60 yuan / m 2) 14 times. But some local reflect on the different regions of the same level of industrial land to "across the board" low standards, not in line with the realities of development throughout the demand and market pricing principles. Some experts pointed out that with the full implementation of the Beijing Municipal industrial sites linked to strokes after the film, along with the implementation of this new policy, Beijing industrial land prices will rise further.

Guangzhou Housing HKMA: No Limit project with the winds built villas

Housing prices in Guangzhou launched after much media attention, there is a more recent media Huadu winds have raised questions about the project, saying with built villas, only to the winds sales staff, "the history of the most luxurious housing units since" . In this regard, the Guangzhou City Guochafangguan yesterday held a news conference and said that the project winds legal compliance, the project has already provided that the land transfer when the winds Motor Company employees Preemption At the same time, employees must also winds Limit the purchase of the identified conditions. And the so-called "villas", Guangzhou has been stopped in 2004, prices in the housing project over 90 square meters of houses will be full complement premium.
City housing bureau also said that the limit is a must "uphold for a long time" housing policy, does not rule out 2008 to 2009 will limit the launch site, it does not rule out expanding the sales prices may be targeted.
90 square meters of additional premium will be more than the council chamber, deputy director and spokesman Huang Bo stressed: "Limit the supply of land for Guangzhou to fully open, transparent and competitive manner, there is no preferential terms, does not exist and can not exist orientation Additional concessions and supply conditions, the mix-family limit the full implementation of the State "90/70" policy, and there is no built with the situation.…… need particular, in Guangzhou in 2004, according to the text, and other countries on the 28th policy, a complete cessation of supply of land for villas and villa approved the construction of housing, there does not exist can not be built villa with the situation. "
Limit the proper solution for the project over 90 square meters housing, open Guochafangguan will strictly enforce the transfer restrictive conditions, including more than 90 square meters of housing from the development of enterprises according to their own ideas and the development of the market demand understand, design, construction and activities in the market. As the "Guangzhou City Limit commodity residential sales management approach" ( "measures") following the introduction of such housing is not consistent with the "measures" to limit the request of the Housing-family structure, the next step, the Board will adopt a change of land Guochafangguan use right transfer contracts, the full amount of additional premium to be addressed.
Specific approach: First, such housing from the bedroom released from the Limit. According to that principle, the current 10 Limit the 1.78 million square meters in the area of planning the construction of about 1.5 million square meters of the Limit deduct part of the building after matching area will provide about 15,000 limit set in the room about 2 According to open when the transfer is the same region, the same category of housing land prices and land prices were the actual project were the difference between the premium in full additional premium will be reduced to not limit its housing of the nature, thus ensuring Such housing development profits and the same period, the region, with basically the same type of housing. Indeed, because the project limit the impact of the development of such housing will also indirectly profits reasonable control; three in the additional premium after the abolition of restrictive conditions, the development of enterprises with their business and take market risks.
Eligible employees have priority winds Huadu easterly winds on the project staff limit the right of pre-emption, Huang Bo said, the project sold in the open when the provisions of the company's employees winds have right of pre-emption, The main reasons are: First, the site of the original land use right company to the winds, also originally planned use of the enterprise is supporting the construction of industrial production staff living life sites. 2006, as strictly controlled enterprises build staff housing, taking into account take into account the housing needs of the staff, as consultations on an equal footing, the plot winds companies to voluntarily returned to the Government the right to use the land for open space limit the transfer.
Second, the winds Huadu car project is our province and the city's emphasis on the development of industrial projects, and city guide for the optimization of the industrial structure and upgrade the city's comprehensive competitiveness, promote employment and raise the people's income, promote economic and social development has a positive meaning. The focus on the development of industry employees to the housing problem, Guangzhou approach is not subsidies, and does not provide the land preferential policy, not to engage in vicious competition, in national policies reference to the extent permitted by the applicable limit for the policy, giving priority to key industries comply with the conditions of staff accommodation problems. This practice has been in the "measures" to be provided. Therefore, the project is in line with sale of the city limit the policy is in line with the actual needs of the development of Guangzhou.
Huang Bo stressed that the priority winds employees Limit the purchase of the project, must also be consistent with the "measures" the conditions set forth in that area with the Guangzhou City residence, the family pretax income below 200,000 yuan (individual purchase personal, pre-tax income below 100,000 yuan), reached late marriage age for the first time home buyers. Winds staff priority to buy the remaining after the Limit the availability, in strict accordance with the "measures" to the public sales.
Does not exclude the next two years再推Limit Huang wave that limit the cascade is a multi-level housing supply and consumption levels are an important one, is the counterpart of the middle-income class housing consumption and supply levels, and it must be "long-term adhere to the "housing policy. Guangzhou does not exclude the next two years do not do that may limit the site, everything will be in accordance with the actual market situation.
Guangzhou launched before the limit is the "double-limit": limited-family limit prices, and are not limited sales targets. 10 projects in four projects in the open limit the transfer did not limit sales targets, the other six restricted sales targets not unified and standardized criteria. And the implementation of the present limit is three, sales targets located in the middle-income first-time home buyers groups.
The HKMA said that the limit of the target groups had sales is relatively small, Guangzhou residence has been a large part of the population there is room, another part of the enjoyment of economic, and the application of low-cost housing policy, there are some people not at the later marriage and childbearing age, then adding a year income restrictions. With the development of the Limit, Guangzhou does not rule out expanding the sales prices may be targeted. (Xinhua Correspondent Jiang Yue Fei Sui Fusanobu)

Mortgage mortgage fear "default" bank Provisional risk

Economists forecast: Beijing-Shanghai this year, overall prices or 5% ~ 5% of concussion yesterday, CITIC Ka Wah Bank, China's chief economist Qun Liao in Shanghai, said that this year the domestic real estate market will continue to cool down housing prices in Shanghai will be in the 5% to 5% concussion, and led to the investment-banking clients of mortgage loans issued a default phenomenon. However, he also pointed out that the phenomenon will not lead to fault the United States for sub-loan crisis situation arise.
Liao, said this year prices of real estate investors should be prepared to make further decline is expected to Shenzhen and Guangzhou, and the prices will be further reduced by 15 percent in Beijing and Shanghai and the overall prices are likely to -5 % ~ 5% between shocks, central region as a result of dwindling resources will remain strong, but other regions have downward pressure. As for the two cities and other cities, housing prices may continue to rise, but the rate of increase is the number of units.
The cooling real estate market continues to lead the reasons, from a macro level, Qun Liao believes that the current macro-control of the central great determination, and macro regulation and control investment in fixed assets is one of the main goals, which accounted for fixed investment in real estate development in a / 3, the growth momentum will continue to be strictly controlled. Based on the above analysis, real estate development and investment this year is expected to slow to a growth rate of below 20%.
At the same time, the investment mentality, due to changes in the external economic environment, the shadow of a global economic recession will also Chinese investors more cautious investment behavior to reduce blind investment impulse. Data show that the second half of 2007, Shenzhen, and Shanghai primary housing transactions compared with the first half were down 41% and 30%.
Qun Liao told reporters, with the adjustment of prices and the shrinking demand for real estate, the second purchase loans, as well as the implementation of restrictions, many investors, especially those with a number of housing speculators who will be facing huge financial pressure. "Mortgages New Deal" the implementation of the past to make their existing property as collateral to obtain financing has been this way can not be achieved, resulting in funds chain fracture.
"Under such circumstances, mortgage default will be the phenomenon might occur in the banking bad debts" Liao group believe that this will be China's banking system in a potential risk.
However, this may be the fault for the situation, such as the United States would not harm the loan crisis. Apart from the China Banking in asset securitization and other financial derivative market is not developed, Liao, said the United States and the loan-to-face is the object of more general customer base, and domestic banks may exist in the default mainly limited to investment clients , total personal loans as a percentage of smaller, the impact was also narrower. Invest in real estate phenomenon is most common in Shenzhen for example, according to statistics, the investment by bank credit, the number is just about in 8000.
Bank: Rates have the ability to avoid oscillation risk In fact, this reporter has learned, this year may be broken for the phenomenon, a number of Chinese-funded banks in Shanghai have also considered, but do not think that this is a big potential risk.
A joint-stock banks Shanghai branch of the retail business to the vice president's analysis, at present, banks are more than real estate loan customers to Shen, the requirements of the down payment ratio of at least 3% or even 5% of the maximum. According to the current Shanghai's real estate market, housing prices have fallen more than 30% of the possibility of a small, and the banks fully capable of circumventing the risk of price shocks arise.
At the same time, investment-oriented customers, because their houses are protected, even in real estate investment in default on bank real estate mortgage mandatory recovery, the likelihood of more. If the bank, the bank in recent years, the investment clients deal with the default, the banks have basically recovered through the auction of the property losses. (Chen Ke)

Construction: June to be released throughout the next three years housing construction planning

February 28, the Ministry of Construction issued <regard to the planning and construction of housing for the formulation of the plan of housing construction work of the guidance> (hereinafter referred to as "guidance"), once again urged all local governments in the 2009 report by the end of March before the annual housing construction plan; reported before the end of June "in the 2008-2012 housing construction planning."
Construction of housing construction medium-term planning to the implementation of housing security policies, housing structural adjustment policies of macro-control policies, such as the determination of very strong.
"" Guiding Opinions on the request, the local governments should protect the housing plan as a preparation of medium-term planning focused on housing construction, housing construction in the planning of the implementation of the protection of housing land supply, construction funds, and other issues.
Reported in the local governments "in 2008 housing construction planning," the security around the building housing the intensity of different tilt.
Beijing proposed in 2008 guaranteed housing and the "double the limit" scale of construction to 8 million square meters, and a further three years building the "two 10000000" (10 million square meters of economy housing, and 10 million square meters "Double limited room ") project. Beijing plans 2008 housing area of 16 million square meters for housing policy of 2 times.
Tianjin released "2008 housing construction plan" proposed, various types of housing policy 6.05 million square meters of construction, building housing for the entire area of 34%.
Shanghai announced in 2008 a new area of 20 million square meters started, the new, built with low-cost Housing and Economic Housing 4 million square meters, security, housing ratio reached 25 per cent.
Overall, the economically developed areas in housing construction planning in the protection of the large-scale housing construction, and economic underdevelopment in the protection of the general housing construction on a smaller scale.
Construction in the "guidance" of a higher urged all localities to clear the proposed low-cost, economy housing, the Housing and other prices in the low-priced, small and medium-TYPE ordinary housing construction project name, financial resources and the implementation of the land , the proportion of housing structure.
As of early February, before the local governments are completed, "the 2008 annual housing construction planning." Subsequently, the Ministry of Construction to delay the attitude throughout the urge to continue to develop and reporting interim housing construction planning, the Ministry of Construction highlights of the current regulatory requirements of the real estate and housing support the implementation of the tasks.
Medium-term housing security planning in particular stressed that all localities new approval, the status of the new housing project, 90 square meters of-family must be accounted for 70%. (Guhaifeng)

Barrie Cook real estate prices Vanke refused to follow the rate of expansion of unabated

Compared Vanke A (000002. SZ) pessimistic, Barrie Cook, real estate (600,048. SH) is the real read the faction.
Vanke all prices of the flats, on February 27, 2008, Barrie Cook real estate-related securities to the person responsible for this reporter, Barrie Cook price. "We are not adjusted sales strategy, before Barrie Cook relatively reasonable real estate prices." He said.
It is understood that the company plans to direct investment this year 300-350 million. "Barrie Cook-expansion" will still staged in 2008.
May choose to equity financing in accordance with the plan Barrie Cook, 30 billion to funds for the three main directions: one built in item 112 billion yuan, 10.8 billion proposed project, the company will use 8 billion -130 billion capital expansion project. From the main source of funding consists of three parts. "Days sales outstanding are expected to be 20 billion, with bank loans and other financing. Trust, we may try, including financing, the company, also carrying more than 40 million on the balance of funds not a problem." Said head of the foregoing.
Shun Tao Xueming securities analysts predict the company may conduct equity financing. The company started in 2008 under the new 6.3 million square meters, than in 2007 increased by 50%. If the market price and land to maintain the current level, the company needs to make quick sales than the 2007 pre-sale area at least 100 percent, or through the capital markets for financing to achieve the management objectives of rapid development.
Xue-Ming Tao pointed out that the current market environment will be reduced if sales of excessive profit margins and therefore suitably fast sales of capital market financing, it is more reasonable choice. Take into account the end of 2007 the company's assets-liability rate to 68.62%, in order to reduce the rate of assets and liabilities, companies should choose to equity financing.
October 11, 2007, Barrie Cook had announced that the company will issue 4.3 billion debt. Barrie Cook property, the issuance of corporate debt, mainly to the more diversified financing channels, from the financial point of view considering issuing bonds can be more capital structure optimization, and the cost of issuing bonds in the cycle of interest rate increases will be under the bank Loan lower.
The aforementioned responsible person said: "At present the Commission is still waiting for approval, we have the material submitted to the authorities and actively promote the management of the issue, but now there is no clear timetable."
Not by the rate of expansion of the earlier, the real estate notice said Barrie Cook, in January 2008 the sales area of 77,500 square meters, the amount of retail sales 863 million yuan. And the December 2007 compared to the amount of sales and sales were down 53% and 45%. Sales compared to the same period last year and 14.12%, but the amount of retail sales rose 41.92 percent. This was due to the market downturn and high-grade projects in those parts.
In December 2007, only 108 Kungkuan Barrie Cook (108 sets), and other real estate for sale, priced 27,000 yuan / sq m, together with other late. The January calendar year is the low season, the company only sold in the Guangzhou-snow-capped mountains, the price 11,000 yuan / m 2. The aforementioned responsible person said, "Apart from the outside Guangzhou, the company's sales have not been affected too much."
Everbright Securities analyst Zhao Qiang pointed out that in 2007, Barrie Cook, in the area of sales in Guangzhou reached the 580,000-meters, in the face of big ups and downs in the market changes, management took appropriate marketing strategies for the 2008 performance lay the foundation for growth. 2008, the company plans to start new area of growth from 73 per cent year-on-year decline to 53%, from the planned sales growth of 104% year-on-year decline to 41%. However, since 2007 sold to the lag of settlement projects, the company's performance in 2008 will maintain a growth rate of about double the high growth rate.
Earlier this year, the company spent 1.7 billion take in a number of cities, showed the company's determination to expand.
Barrie Cook, real estate executives said, the real estate and long-term trend has not changed for the better, but the short-term adjustment is inevitable. The current market price fluctuations will be driven by transactions return to a rational, long-term industry to the healthy and stable development of professional norms brand enterprises is adjusted opportunities. In 2008 the company will continue to be actively concerned about as a result of macro-control industry concentration, increased the possibility of concern through the acquisition and merger or cooperative development, and other companies to expand the operation scale of the opportunity.
2007, Barrie Cook real estate 8.11 billion yuan of income, an increase of 101%, attributable to the shareholders of a listed company's net profit was 14.9 billion yuan, an increase of 122 percent, the company's performance has maintained a high growth doubled. In 2008 the company will strive to be completed 3.5 million square meters, the annual sales income of 24 billion yuan.

PAULSEN oppose the United States finance the rescue the property market

PAULSEN do not believe that the current market situation requires taxpayers to pay more taxes. IC Federal Reserve Chairman Bernanke information on the 27th that will be further cut at the same time, the United States Department of Commerce published the same day the United States in January new home sales also set a record low since 1995. The United States Treasury has said that the day Paulsen, housing owners oppose spending huge sums – save, and his reasons are: acts of the Government's assistance can fully control the situation.
New home sales declined for the United States in March downturn in the housing market in January this year, further deterioration, the United States Department of Commerce announced on the 27th of the data revealed that in January this year, the United States one month before the new home sales fell 2.8 percent to a seasonally adjusted annual rate of 588,000 units, in February 1995 is the lowest point since. This is America, the third consecutive month, sales of new homes fell.
At the same time, new home sales in January dropped by U.S. 4.3% to 216,000 US dollars each, in September 2004 for the lowest point since.
With the decline in sales to the end of January, the backlog number of new houses for sale at an annual rate of up to 482,000 sets by month sales pace, the need to be 9.9, these housing sales End, which is the past 26 years the longest time.
The United States announced on the 26th of the data also showed that in January the number of housing recovery year rose by 90% to 4.5 million units, the loss of mortgage foreclosure and the number rose by 57 percent over last year in December rose 8 %, since last August and the highest level since.
Moreover, the United States in January sales of existing homes also fell to the lowest level since 1999, the U.S. sales of existing homes fell to 201,100 US dollars each. Economists believe that the backlog due to the large number of houses for sale, home sales prices in the coming months may also continued to decline.
"Will not spend money to help owners difficulties"
Faced with the Democratic Party, bankers, economists and consumers asking the Government to use large amounts of funds for the housing difficulties of the owners appealed to the Bush administration's increasingly tough opposition.
U.S. Secretary of the Treasury on the 27th Paulsen said in an interview made it clear that, at present, Washington is implementing many assistance plans are in helping imprudent loans, investors and speculators, but we are not to a lack of cash collateral loans provided substantive measures.
Paulsen said that in view of 2008 there may be up to 2 million Americans lost their houses redemption, the Bush administration market-based measures to prevent the situation out of control, the central link in the mortgage industry to take the initiative to help some borrowers . "I do not think the present situation requires taxpayers to pay more tax." Furthermore, the United States Office of Federal Housing Enterprise Oversight said on the 27th will be abolished in the United States this week six two largest mortgage lending institutions – the Federal National Mortgage Loan Association ( "Fannie Mae") and Federal Mortgage Corporation ( "Freddie Mac") investment limit, which the United States is expected to ease the secondary mortgage market crunch.
As Fannie Mae and Freddie Mac have broken out after major financial scandals, in 2006 the regulatory authorities of the two entities set up a mortgage loan assets ceiling that the two mortgage portfolio ceiling of 1.4 trillion dollars. For the Government to abolish its investment limit, Fannie Mae CEO in Madrid, said the company would proceed with caution, wish to limit losses.
"Recession risk than inflation"
Faced with the bad economic situation, Federal Reserve Chairman Bernanke on the 27th in the Senate on monetary policy report, the Fed will cut interest rates further in March. New York after the major indexes closed generally higher, but profit-taking as investors take operation, the three major indexes ended the day mixed, but not ultra-one percent rate.
As the market expected, Bernanke day or downlink prominent economic risks, but he will be concerned about inflation as the second target. The outsiders believe that, which is equivalent to admit that the current weak economic growth and rising prices at the same time the situation of stagflation.
Bernanke's speech and in his speech and the beginning of this month Fed Vice Chairman Cohen's remarks the same stand on Tuesday that Fed officials might as most economists expect, in the March 18 meeting of a rate cut again .
"Sluggish housing market and consumer and corporate credit crunch is expected to be the situation in the next two years to continue to bring pressure on the growth, the recent cut in interest rates is expected in 2010 to promote economic growth in the trend line."
In this Congress every six months to submit a report of the monetary policy, Bernanke reiterated last week lowered the GDP growth view that this year's GDP growth rate will be 1.3 to 2 percent, in 2009 the GDP will grow 2.1% to 2.7%, and then in 2010 to 2.5 to 3 percent. He also expected the inflation rate will remain at policy-makers hope that by the 1.5-2% range above. (Ye Fu Jia)

Xuejianxiong: 30% of the new Shanghai real estate prices are still

Shanghai recently as a below average price of commercial housing turnover statistics million in the week to Shanghai property market, "turning pale," Shanghai prices from the operation of the industry of particular concern. Condominiums real estate Xuejianxiong director of the Research Center said yesterday that the average price is below 10,000 yuan for some low-cost flats in a rise in the proportion of turnover, there are certain contingencies, in fact, within one month after the Spring Festival, many new Shanghai in the availability or pushed prices to rise.
Xuejianxiong, since January 17 to February 25 in Shanghai approved a total of 32 push-in the five sets of apartment properties listed above, in 32 of availability in 15 is the first new listing of the disk or with a grant availability separated for more than one year late availability; In addition, there are five groups of Price and availability of a pre-only Nanhui than a sale offer launched last December awarded availability low 200 yuan / m 2; rest of the 11 sale, the price than the previous batch of availability in varying degrees of increase, accounting for more than 30% of the total. "Of course, compared to 90% last year, rising real estate prices have been greatly affected by the fire of potential adjustments." (Lee and Yu)

Housing sale of the two US data pessimistic mortgage investment limit has been cancelled

United States Office of Federal Housing Enterprise Oversight said on the 27th will be March 1 lifting of the United States two largest mortgage lender, the Federal National Mortgage Association (Fannie Mae, or Fannie Mae) and Federal Mortgage Corporation (Freddie Mac, or the and the United States) portfolio limits.
Analysts said the move is expected to ease the United States secondary mortgage loan market crunch.
Investment limits will be cancelled because of Fannie Mae and Freddie Mac have broken out after major financial scandals, in 2006 the regulatory authorities of the two entities set up a mortgage loan assets ceiling that the two mortgage portfolio ceiling of 1.4 1 trillion US dollars.
Secondary mortgage loans from the United States after the outbreak of the crisis, Fannie Mae, the company premises, as well as the United States some Democratic members of the United States Congress calling for the regulatory bodies relaxing restrictions to allow the two institutions to attract more mortgage loans assets, compensate for the investors loan-to-market and lack of confidence caused by reduced demand.
The housing market recession of the United States and Fannie Mae mortgage giant wedge of these suffered. February 27 Fannie Mae announced fuels virtually fourth quarter, the fourth quarter of last year the company loss of 3.56 billion US dollars. Loss per share of 3.80 US dollars, far exceeding analyst loss per share of 1.21 dollars forecast.
Fannie Mae CEO Daniel? Madrid said that the loss was largely because prices have fallen substantially and more and more buyers to repay the loan. He believes that, this year, the real estate market is still tough year. For the Government to abolish its investment limit, in Madrid, said the company would proceed with caution, wish to limit losses. Analysts believe that the lifting of the two mortgage investment limit is expected to ease the loan-to-market liquidity crunch.
Fannie Mae and Freddie Mac was created by the United States Congress and was supported by mortgage credit companies, whose principal function is to buy mortgage assets and then re-packaged its bonds for sale to investors, thereby supporting the United States real estate market.
New home sales fell for the United States Department of Commerce announced on the 27th of January new-home sales fell the third consecutive month, fell to a 12-year low.
On a seasonally adjusted basis, January sales of single-family homes fell 2.8 percent annual rate of 588,000 units. Economists had expected the index to 60 million. This is the February 1995 to the lowest level since then sales of 559,000 units. In addition, in December of last year, new home sales dropped 4.0 percent annual rate of 605,000 units.
Analysts pointed out that the United States and the decline in new home sales mortgage banks do with raising the threshold, and high inventory is to discourage buyers, though the Government strongly restore the city, but once again a difficult short-term supply and demand balance situation.
In the company of the report, the demand for housing will continue to shrink recently put pressure on the supply data. Currently, the United States dropped space in the new house started shrinking, but it has not reached the bottom.
In the nearly constant at the bottom of the process, the recent performance of the housing supply data may be even worse. But buyers are increasing the affordability of rental housing prices showed an improvement over the city despite the adjustment would be more lengthy process, but the market is moving in a positive direction.
The company also is expected in the United States will be in the city for a long time remains in the doldrums, but not drastically worsened, especially housing prices will slow adjustment, even in the housing supply and demand will rebound after the continuous decline in prices 2009 will be the earliest possible return of warmer. (Lu Zheng)

Vanke's first should it change its tactics, "alluding to the" plight of the funds rate

SPECIAL OFFERS properties while simultaneously with the added liquidity for the promotion of projects, one is added liquidity, Vanke's every move will touch the market, and this is the major show of the current real estate enterprises are facing financial difficulties.
So far in December last year, Vanke in Guangzhou, Shenzhen, Chengdu, Wuhan, Shanghai, and other cities have adopted "prices" promotions, and many new Open availability are lower than neighboring prices 15% to 30% of the low-priced sale Many of the old flats availability while the remaining 95% sale such as the form of "stockpile." Vanke with the words, it is in line with Vanke a "rapid turnover" strategy.
And yesterday, Vanke also announced that additional public last year, there will be special fund will not invest 984.56 million yuan temporarily to real estate projects, the company intended to be used, which does not add more than 980 million yuan of liquidity, and thus save Finance costs about 28.665 million yuan. In this regard, there are the insiders, Vanke adjustment fund-raising purposes is to demonstrate its intention to slow down the progress of real estate development.
Whether sales or financial strategy adjustment, the industry believe that with the market situation Vanke had the same strain of the judgement, Vanke's chairman Wang on many public occasions he has not hid his face from the rapid increases in the property market to the rational adjustment "On the inflection point." At the same time, some developers are moving crashed, "follow suit" promotion; another part of the Wang did not support the "inflection point" and are none of Vanke's still wait and see.
It must be pointed out that, although the developers attitude "divide", but it is undeniable that the tight monetary policy to continue to market conditions and the situation remains in the doldrums, increasing the pressure on the capital developers must make a choice.
China Real Estate Development Research Institute deputy director of the Institute Yanggongxu believes that Vanke promotions main purpose is to return funds because Vanke pattern of development is "running quantity" of the cash flow in high demand, and in the bank loans and capital markets obviously tight circumstances, Vanke Days sales outstanding on the expectations will increase. Condominiums real estate Xuejianxiong director of the Research Center also believes that tension in the capital and lack of financing circumstances, take money from the market is the only way, more developers need to return the funds will be "replicated" Vanke, a discount promote sales.
Developers of the funds is not optimistic. Recently, the central bank vice governor Yi made it clear that this year the central bank will not tight monetary policy any wavering. Earlier, this newspaper has also reported that the banks subject to quarter of this year, reported the loan amount, and now on to the more stringent monitoring of credit for the unit invested. With the Shanghai branch of the state-owned banks responsible person said that the bank had already spent in January all of the credit line, coupled with more banks now stand on the implementation of the most stringent vetting of credit, it seems that future developers will be bound to have "very dead ugly. "
Standard & Poor's yesterday also reported that almost all enterprises in the mainland this year, faces a severe test of the market operating conditions, "If the market environment does not improve, enterprises will be a drying up of liquidity, some developers will be difficult to maintain the growth momentum, and affected counterparts, many small developers with limited financial resources will be eliminated. "(Lee and Yu)

Shanghai land transfer regulatory break that tens of billions of funds into the NPC's supervision

According to the official website of the Shanghai Municipal premises has been announced in 2007 the city's open state-owned land use right transfer calculation results Shanghai in 2007 through an open call for only way to make the land transfer pegged total revenue of about 42 billion yuan. The actual price will be much higher than this figure.
National land transfer revenue growth in recent years.
According to the Land and Natural Resources Division of Finance data, 1-11 end of 2007, the total purchase price for the land transfer 913 billion yuan, an increase of 58.9%. 2006 to 767.689 billion yuan, an increase of 30%. But land transfer the supervision of the balance of payments has been a government departments and people's congresses at all levels, a major problem. The situation in 2008 the first breakthrough in Shanghai, Shanghai People's Congress Standing Committee on February 25 of 2008 points through the first land transfer to the balance of payments situation in the context of supervision by the NPC.
"This is a break that move, but to truly achieve effective supervision there are still many problems to be solved." Shanghai University of Finance and Real Estate Research Center, professor of India?, Pointed out.
Land transfer payments mysteries It is understood that in 2008, Shanghai People's Congress Standing Committee's work in the main points, to hear and review the implementation of the Shanghai Municipal People's Government on the transfer of state-owned land revenue and expenditure management systems Budget and Final Accounts of the report, the NPC Standing Committee in supervision of the year A work plan elements.
The work points clear, this year the National People's Congress in Shanghai in October at the Standing Committee meeting, focusing on state-owned land transfer payments to listen Budget and Final Accounts management system to establish the progress made in the 2007 accounts and the preparation of budget 2008.
It is worth noting that in the beginning of this year by the Shanghai Municipal People's Congress on the government work report, made clear it is essential to strengthen financial funds, public funds and social operation more transparent, we must further increase the financial funds open to the community efforts, and to According to state requirements, according to the law of the extra-budgetary funds in budget management.
And the income from leasing land has been divorced from the government budgetary revenues, the extra-budgetary revenue and become the "main force."
Prior to the State Council's Development Research Center, a research report revealed that in some local governments, land revenue and urban expansion direct the local indirect taxes accounted for 40 percent of budget revenues, and net income from leasing land, the extra-budgetary revenue of the Government of 60 percent.
Land transfer payments from the mysteries around the first government land sale revenue "highly confidential."
— Advisory several senior members of the industry are reflected on the Government's revenue from leasing land, the situation has not been more detailed official information released, the department in charge of this information has always been "a closely guarded secret."
"As a developer, we can only know is exposed to block transfer, but overall, as the government land sale means more, each of the varying circumstances, if the Government is not willing to open in the community in this regard information, it is difficult to know the outside world. "Shanghai, a local developer responsible person said.
According to reporters and published on the website of the premises to sell results of the 42 billion yuan land transfer data, the responsible person said, this is only one part, and each of the transfer requests and do not pose the same amount, and can not directly equivalent to the city's revenue from leasing land, "the real figure may be even higher."
With the local governments due to the scale of land transfer control policy, and market trends, such as the impact of various factors in each of the land transfer is often the difference between larger scale, this has largely increased the difficulty of monitoring.
India?-Hua said that apart from the public channel income from the sale of land, various forms of non-public transfer arrangements such as the agreement is still within a certain range, and these are all over the land transfer an important part of income, which is not even part of the funds Zhile people.
Secondly, it is the land transfer expenditure in the long-term status has not been made public.
Shanghai Municipal Development Planning Commission, Shanghai Municipal Financial Bureau, the Shanghai Municipal Bureau of premises jointly issued by the end of 2001 <Shanghai, the transfer of land management practices> provisions, the income from land transfer "payments" two lines. The city sold by the city to sell the premises agreed in the contract amount charged, unity on the 20th of each month, will be closed on the sale of the land revenue to the City Finance Bureau accounts. The same month, according to the city finance bureau allocated to the respective proportions of the above district (county) government, municipal premises Resources Board, the Corporation for the City; use of the land for construction purposes for the city finance bureau turned over to the central authorities in accordance with the regulations; city on the use of special funds for the construction of , the Municipal Urban Planning Commission, in accordance with the overall arrangement focus on construction tasks.
But all along, the approach of using third-party monitoring role has been missing.
The State Council Development Research Center report also pointed out that the local government on the expenditure of funds from leasing land distribution pattern: 30% ~ 40% for the infrastructure, roads, schools, and other public purpose use; 30 percent to 40 percent for industrial space; About 30 per cent is the commercial and residential land, half of which construction of economy housing, only 15 percent of commercial land is the true and real estate.
Oversight needed before upgrading Shanghai Mayor Han Zheng said that during the two sessions in Shanghai, the Shanghai municipal government this year, the NPC Standing Committee will report the transfer of funds, such as the operation of the future, it should open to the NPC Standing Committee, under the premise of gradually open society as a whole.
"NPC Standing Committee to participate in supervision, and is open to the NPC Standing Committee, the balance of payments from leasing land, the first step out of mystery, and ultimately the whole of society must be open." India?, Admitted that even so, there are still many problems.
In recent years the requirements of the countries of the right to use state-owned land will be sold using an open call for linking the film, but in some parts of the actual operation, still pegged to make an open call to set the threshold, even as a designated enterprise "customer the "shortlisted standards, the circumstances of the income from leasing land, the community will also be questioned.
In this regard, India?, Pointed out that the land transfer in the process of "grey operation," the same should be the land transfer supervision of the revenue and expenditure part of the expansion.
July 2007, the National Audit Office launched a involving Beijing, Shanghai, Tianjin, Chongqing, Harbin, Hefei, Jinan, Changsha, Guangzhou, Chengdu, 10 urban land reserves and land development and transfer funds for the audit investigation, focus on the audit 2004-2006 of the transfer of land management and use of the collection, as well as four municipalities and Heilongjiang, Anhui, Shandong, Hunan, Guangdong, Sichuan, six provinces land development and funds, in particular, "8? 31" During the private agreements to sell land. According to reports, the audit found a number of problems, and submitted to the State Council. But the specific audit situation is not made public.
In fact, from October 2006 has been basically completed and submitted to the State Council revised the report entitled <land transfer of the balance of payments management approach> document, the Shanghai operation of the land transfer funds into the supervision by the NPC, just out of the land transfer funds payments regulated basic first step.
According to the disclosure of information, the draft document, in addition to local governments to regulate the use of the land transfer as a key, but also to sell the land for building the urban land-use taxes increased three-fold, additional land for construction purposes and the use of farmland for the tax increase one times the local land transfer payments, it will take in the system of the Ministry of Finance set up a "non-gratuitous use of the state-owned land accounts" approach, according to the income of state-owned land to sell a certain percentage, establishment of a "state-owned land Income Fund," and that local governments shall not be used as income in the period arrangements and the implementation of "separating revenue and expenditure", and accept the supervision of the local people's congresses. The draft has not yet formed under the State Council issued an official document, but some of the provisions from which the Ministry of Finance, the National Tax Office and the Department of Homeland issued in the form of notification.
Shanghai premises concerned that the inclusion of supervision by the NPC is just beginning, the relevant work will be launched step by step, such as the standardization of the land sale revenue and expenditure planning, obtain approval for improved reporting and information, but related work is not yet fully in the relevant departments start.
This person appears in Shanghai from the beginning of this year to the balance of payments into the land transfer supervision by the NPC, and the city this year determined that the economic housing, the low-cost housing at the core of the security system are closely linked. Under the previous policy, land transfer part of the fixed proportion of the need for low-rent housing and economy housing construction. "Strengthening of the balance of payments on the land transfer regulation is that the new housing security system and the smooth progress of completion of one of the key tasks of protection." (Tian Jie)