Chinese Minister of Construction Length: 600 billion fund will be invested by idle fitness room building

January 9, housing and urban-rural Construction Jiang Weixin, Minister in the National Construction Work Conference that in 2008 the size of the National Housing Fund to pay to reach 2.02 trillion yuan, while the idle fund in support of affordable housing, such as the protection of the pilot Housing construction work will start, up to 6,000 billion idle gate opening run provident fund affordable housing, such as construction, real estate in 2009 will be an important pawn in the New Deal.




In addition to continuing efforts to increase housing security, the requirements of Jiang Weixin local governments responsible for the stability of the real estate market, provincial governments for the regional real estate market overall responsibility for people, cities and county government is responsible for the provincial government.

In stabilizing the real estate market means, Jiang Weixin said that local governments in accordance with the actual introduction of local policies, but in 2009 local policies to strengthen the seriousness and legitimacy, so the local government authority are not allowed to introduce the tax, financial, etc. to stimulate the real estate market policy.

Idle 600 billion fund to open title

December 21, 2008, the State Council promulgated the "Regulations on the real estate market to promote the healthy development of a number of opinions" (State Office No. 131, hereinafter referred to as "No. 131"). Which stipulates that the exploration of idle fund for affordable housing construction.

Jiang Weixin building work in the above-mentioned meeting, disclosed that on the idle fund for affordable housing, such as the construction of the pilot program is under development, to be published program, the local government should actively cooperate in this task.

It is understood that in the country do, "No. 131" is issued, the Ministry of Construction of housing and urban and rural areas began to seek a pilot program content and pilot cities. In many parts of the city are very enthusiastic, because affordable housing, such as housing construction funds for the protection of the problem is a troublesome issue for local governments, and the housing accumulation fund is also a small number of local governments to draw on financial resources.

Jiang Weixin said that preliminary statistics, in 2008 the national housing fund to pay the balance reached 2.02 trillion yuan, an increase of 24.9 percent. Personal loans reached 601.7 billion yuan, an increase of 18.6 percent. To pay a total of 73 million people, an increase of 1.6%.

Shanghai Provident Fund Fellow at the Center for Cong-cheng told reporters earlier, according to 2007 data, the National Provident Fund reckoned idle about 400 billion yuan. The National Provident Fund in 2008 raised the ratio of deposit to a large extent, when new fund to pay scale has reached more than 4000 billion yuan, the current size of the National Provident Fund has been idle for nearly 600 billion yuan.

Although local municipalities in the pilot cities to apply for the fund are very enthusiastic, but the Ministry of Construction of housing and urban and rural areas in the selected pilot cities is very cautious when. Jiang Weixin said that the idle fund for affordable housing, such as the construction of the pilot work together is not easy.

It is reported that Shanghai is expected to fund selected pilot cities, while the Shanghai Provident Fund Management Center Cui Sheng, Chief Economist, January 8 also said that once the successful applicants in Shanghai fund pilot cities, idle fund for low-cost housing construction will exceed the support of issuing the currency now subsidies the way to direct for the construction of low-cost housing.

Jiang Weixin day meeting that began this year to fund the revision of regulations to strengthen fund management, information openness and transparency and supervision this year, provident fund management center to the person in charge to carry out a training information system in improving the provident fund.

Housing is not abandoned by the right to build

Idle 600 billion fund after the gate opening, will be used mainly for affordable housing, such as the protection of housing construction. And protection from the current housing products, the only affordable housing can be achieved out of the provident fund. As the idle fund belonging to the principal part of payers, it is necessary to establish investment - efficiency - to withdraw from the management mechanism.

However, the housing construction sector embarrassing is that the situation in the real estate downturn, many local governments to abandon the construction of affordable housing. Changed to affordable housing "by the two."

Small size, low-cost affordable housing by the local government into low-cost housing construction, management, a number of large units are affordable housing as a local government to sell real estate. At the same time, some local governments to suspend the construction of affordable housing instead of market-oriented acquisitions.

In this regard, Jiang Weixin said the affordable housing in a certain period of time is still the domestic housing security system is a necessary component. Local governments can be the basis to adjust the actual situation of local affordable housing construction, but to insist on the building. In 2009, the National still have to complete the construction of affordable housing is the number of 1,300,000 units, this number can not be reduced.

Jiang Weixin said that in 2008 the building of low-rent housing system has invested 35.4 billion yuan was invested in 2007 of 3.7 times. In 2008, the central budget put aside a total low-rent housing subsidies 6.8 billion. The fourth quarter, in response to the global financial crisis, the State Council to expand domestic demand to promote economic growth in a strategic decision, and added the central low-cost housing construction subsidies 7.5 billion has been issued around the decomposition into specific projects. At the same time, the central and western standards of grants from the central 200 yuan per square meter to 300 yuan, 300 yuan per square meter in the western region increased to 400.

Meanwhile, the National Development and Reform Commission and the Ministry of Construction of housing and urban and rural areas together on the issue of low-cost housing construction has done a study that the lack of matching local funds, prepared in 2009 in the above criteria on the basis of the further increase in the central finance the western region of the grant efforts.

Jiang Weixin said that in 2009, China will continue to comprehensively promote the protection of housing construction, 2.6 million to resolve the housing difficulties of urban low-income family housing; solution 800,000 live in the coal mines, forests, reclamation area shantytowns housing families housing issues; add 1.3 million affordable housing units. The central and western regions of the central financial subsidy standards, will be the basis of 2008 to further enhance and strengthen the protection of housing credit support.

It is learned that the Ministry of Construction of housing and urban and rural areas at the same time, "Housing Security Act," included in the legislative agenda. And had been, there is news that the sector may be issued only in the short term a "housing Protection Ordinance" to protect the existing housing of some good practices to consolidate down. Construction of housing and urban and rural areas to increase housing security legislation, and also indicates that covered the whole era of housing security.

The local authority are not allowed to "rescue the market"

The implementation of the State Council, "No. 131" measures to stabilize the real estate market will be around the government's major tasks in 2009.

Jiang Weixin said the real estate industry is an important pillar of the national economy industries, and in 2009 the work of economic growth, security, real estate is more important to focus.

Jiang Weixin said that stability in the region in 2009 the real estate market stability is the primary person in charge of provincial government, which layers of decomposition, layers of implementation. Countries will increase the real estate market monitoring and control efforts, the city will be the real estate information collection expanded to 40 from 90, the real estate situation analysis in 2009 will become an important means of macroeconomic control.

In 2009, the central level will continue to strengthen macro-control real estate inter-ministerial joint conference system, also requires local governments have been established in 2009 in real estate joint control system. Jiang Weixin request, the provincial government departments in the establishment of such a system, based on the 2009 quarterly report to the local real estate market situation to the Ministry of Construction of housing and urban and rural areas for the national macro-control policy-making.

Jiang Weixin said the government departments in 2009 to guide vendors to actively adjust prices in order to promote home sales. To this end, because of price cuts on some social issues, local government departments to guide the buyers in accordance with the contract and take the legal channels. At the same time, real estate enterprises should also shoulder social responsibility and a positive sale. State support for small and medium-size general merchandise sales of housing and at the same time tighten the financial support of housing developers, especially in construction projects in support of credit funds. Positive on real estate loans in support of mergers and acquisitions, mergers and acquisitions in support of real estate enterprises.

For all levels of government in 2008 launched one after another local real estate market stabilization policies, Jiang Weixin support. But he also stressed that in 2009 the local real estate market stabilization policies should be further standardized, and not to introduce some local governments beyond the scope of their authority taxation, land use policies and so on.