This article is from the public number:China Economic Weekly (ID: ChinaEconomicWeekly) , author Li Yonghua, formerly titled: “

Someone in the housing company is happy with some people’s worries | “Golden Nine” is not enough color, “Silver Ten”Not necessarily there, the title map comes from: Visual China.


Recently, the National Bureau of Statistics website released the price changes of commercial housing in 70 large and medium-sized cities in September 2019. Kong Peng, chief statistician of the National Bureau of Statistics, explained that the sales price of new commercial housing increased slightly, and the sales price of second-hand residential houses was basically flat.

Specific data show: In September, the sales price of new commercial residential buildings in first-tier cities rose by 4.6% year-on-year, an increase of 0.4 percentage points over the previous month; the sales price of second-hand residential houses rose by 0.1% year-on-year, down 0.2% last month. The sales prices of new commercial residential and second-hand residential in second-tier cities rose by 9.3% and 4.7% respectively year-on-year, and the growth rate dropped by 0.6 and 0.8 percentage points respectively from the previous month. The sales prices of new commercial residential and second-hand residential in third-tier cities rose by 8.4% and 5.0% respectively year-on-year, and the growth rate dropped by 0.6 and 0.8 percentage points respectively from the previous month.

The first, second and third tier cities have different expressions, and each housing company “has some people happy and worried”. On September 24, Yu Liang, Chairman of the Board of Directors of Vanke, said that “Golden Nine” is not enough, and “Silver Ten” is not necessarily available.

Statistical data and market indications: China’s real estate market is showing a big differentiation pattern. The way of real estate regulation has been extended from the main control demand side to the strict control financing side. The market faucet is tightening, and the market as a whole is moving toward “ The general positioning of the room is not fried.

Strictly control the financing side, “The loan to real estate has never been so tight”

Policy regulation is a key variable in the development of China’s real estate market. Under the positioning of “staying and not speculating”, all localities have policies, such as restrictions on purchases, limited land prices, limited prices, limited purchases, and even strict restrictions on the prices and brands of materials used in fine-decorated houses. Differently, the degree of refinement of management and control is different, but they are all “strict”.

On July 30th, the Politburo meeting reiterated that “the insistence that the house is used for living, not for the purpose of speculation,” first proposed “not using real estate as a means of stimulating the economy in the short term.”

Compared to previous regulatory policies, The biggest difference in real estate regulation and control policies this year should be the overall tightening of real estate financing.

At the Lujiazui Forum in June this year, Guo Shuqing, chairman of the China Insurance Regulatory Commission, pointed out that excessive financing in the real estate industry not only squeezes out other industry credit resources.