CIFI participated in the "Shanghai Bank-Enterprise Matchmaking Meeting for Promoting Affordable Housing Construction"

Shanghai Holds Bank-Enterprise Matchmaking Meeting to Promote the Construction of Affordable Housing

In order to implement the central decision and deployment, accelerate the construction of affordable housing in Shanghai, guide financial institutions to increase support, and promote the effective connection of financing supply and demand, on the afternoon of December 10, the Shanghai Headquarters of the People’s Bank of China joined hands with the Shanghai Banking and Insurance Regulatory Bureau and the Municipal Housing Management The bureau and the municipal local financial supervision bureau held the Shanghai Bank-Enterprise Matchmaking Conference on Promoting the Construction of Affordable Housing.

At the meeting, the Municipal Housing Administration introduced the construction of affordable housing in Shanghai, the Shanghai Banking and Insurance Regulatory Bureau introduced the practice and effectiveness of the financial system in supporting the construction of affordable housing, and the Shanghai Headquarters of the People’s Bank of China put forward specific requirements for financial support for the construction of affordable housing.

The meeting emphasized that increasing the supply of affordable housing is an important way to solve housing needs for new citizens and young people. It is an effective measure to realize housing for all people and help realize common prosperity. Financial institutions and real estate companies must fully understand the significance of advancing the construction of affordable housing, and better integrate their own development with national strategies. Financial institutions and financial markets should increase financial product and service innovation in light of the new characteristics of different types of affordable housing; real estate companies should focus on their main business and operate steadily and prudently. All parties work together to promote the construction of affordable housing in Shanghai to a new level.

Since the beginning of this year, Shanghai's financial sector has implemented scientific and steady macro-prudential management of real estate finance. In response to market changes, the amount, structure, and pace of real estate credit financing have been appropriately adjusted in a timely manner to promote the smooth operation of the real estate market. In the next step, Shanghai will thoroughly implement the decisions and deployments of the Party Central Committee and the State Council, take effective measures to better meet the reasonable financing needs of affordable housing construction and the commercial housing market, and promote the healthy development and virtuous circle of the real estate industry.

The participating ICBC, China Construction Bank, Bank of Communications, Shanghai Pudong Development Bank, Bank of Shanghai, Shanghai Rural Commercial Bank and Shanghai Real Estate, Urban Investment Holdings, Lujiazui Group, CIFI Group, Dahua Group and Shui On Group signed financial support for affordable housing Bank-enterprise strategic cooperation agreement.