Ni Hong: Seriously insolvent real estate companies “should go bankrupt”

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Ni Hong, Minister of the Ministry of Housing and Urban-Rural Development of China, emphasized in Beijing on the 9th that for real estate companies that are seriously insolvent and have lost their operating capabilities, they must follow the principles of the rule of law and marketization, and “bankruptcy should be bankrupted, and reorganization should be reorganized.”

This year’s government work report puts forward clear requirements for optimizing real estate policies and promoting the stable and healthy development of the real estate market. Ni Hong said at the people’s livelihood themed press conference of the second session of the 14th National People’s Congress that the Ministry of Housing and Urban-Rural Development will focus on stabilizing the market, preventing risks, and promoting transformation.

On March 9, the second session of the 14th National People’s Congress held a press conference in Beijing. The picture shows Ni Hong, Minister of Housing and Urban-Rural Development, answering reporters’ questions.Photo by China News Service reporter He Penglai

“Real estate is real estate. It is impossible for houses in Shanghai and Guangzhou to be moved to Beijing to meet the housing needs of Beijingers.” Regarding stabilizing the market, Ni Hong said that cities have now been given full autonomy in regulation and control, and the city government must shoulder its responsibilities. , based on the population situation, supply and demand situation and security needs, prepare and implement housing development plans, implement city-specific policies to optimize real estate policies, and stabilize the real estate market.

Regarding risk prevention, he bluntly stated that the current difficulty in real estate is capital. To this end, China has established an urban real estate financing coordination mechanism and proposed a “white list” of projects in accordance with “one project, one plan” to support the reasonable financing needs of real estate companies without discrimination. Currently, 312 cities in 31 provinces across the country have established this mechanism, and more than 6,000 “whitelist” projects have been reported. Among these projects, 82.8% are projects of private enterprises and mixed-ownership enterprises. As of the end of February, commercial banks had approved loans exceeding 200 billion yuan.

In terms of promoting transformation, Ni Hong said that we should focus on the construction of allotment-type affordable housing on the one hand, and the supply of rental-type affordable housing on the other, and focus on diversified and diversified methods such as “one bed, one room, one suite”. Solve the housing problems of new citizens, young people and migrant workers, so that they can free their hands and feet to strive for a better life.

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