Recently, the China Banking and Insurance Regulatory Commission and the Ministry of Housing and Urban-Rural Development jointly issued the "Guiding Opinions on Banking and Insurance Institutions Supporting the Development of Affordable Rental Housing."

The China Banking and Insurance Regulatory Commission and the Ministry of Housing and Urban-Rural Development stated that they will jointly promote the implementation of relevant measures to form a joint force to support the development of affordable rental housing and promote a virtuous cycle and healthy development of the real estate industry.

The following are the details of the "Opinions": all banking and insurance regulatory bureaus, the housing and urban-rural development departments (committees, management committees) of all provinces, autonomous regions, and municipalities directly under the Central Government, the Housing and Urban-rural Development Bureau of the Xinjiang Production and Construction Corps, the National Development Bank, all large banks, and joint-stock companies

Banks, foreign banks, direct banks, financial asset management companies, financial asset investment companies, wealth management companies, all insurance group (holding) companies, insurance companies, insurance asset management companies, and pension management companies: In order to thoroughly implement the provisions of the Party Central Committee and the State Council,

Decisions and arrangements for the development of affordable rental housing shall be made, and the requirements of the "Opinions of the General Office of the State Council on Accelerating the Development of Affordable Rental Housing" (Guobanfa [2021] No. 22) shall be implemented, and financial support for the construction and operation of affordable rental housing shall be further strengthened.

The following opinions are hereby made.

1. Overall requirements (2) Basic principles - people-centered.

Effectively increasing the supply of affordable rental housing and doing our best to help new citizens, young people, etc. alleviate housing difficulties are major decisions and arrangements of the Party Central Committee and the State Council, and are the key tasks of housing construction during the "14th Five-Year Plan" period.

Banking and insurance institutions must effectively improve their political position, focus on continuously enhancing the people's sense of gain, happiness, and security, support the development of affordable rental housing as an important measure to promote social prosperity, and do a good job in ensuring affordable rental housing.

Financial support for rental housing.

——Market-oriented.

To give full play to the decisive role of the market in the allocation of financial resources, banking and insurance institutions must provide diversified and targeted financial products and services for the development of affordable rental housing on the premise of commercial sustainability and scientific calculation of returns.

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——On the premise that risks are controllable.

Banking and insurance institutions must strictly abide by various regulatory regulations, standardize the management of affordable rental housing financing, conduct strict due diligence, prudently assess risks, and promote business development in a steady and orderly manner.

To effectively prevent financial risks, it is not allowed to make changes in the name of affordable rental housing, play "edge balls", and conduct regulatory arbitrage.

——Guaranteed by multi-party collaboration.

All localities should speed up the introduction of specific measures for the development of affordable rental housing, establish and improve housing rental management service platforms, strengthen information sharing with banking and insurance institutions, etc., create good conditions for banking and insurance institutions to support affordable rental housing, and form a support system for affordable rental housing.

Synergy for rental housing development.

2. Give full play to the advantages of various institutions and further strengthen financial support. (3) Give full play to the role of the National Development Bank. The National Development Bank should base on its own functional positioning and increase its support for affordable rental housing projects on the premise of compliance with laws and regulations and controllable risks.

medium and long-term credit support.

(4) Support commercial banks in providing professional and diversified financial services. Commercial banks should optimize and integrate financial resources, actively meet the service needs of affordable rental housing development and construction, purchase, renovation, operation management, transaction settlement and other services, and provide professional and diversified services.

financial services.

Rural small and medium-sized financial institutions should give full play to their advantages in having a good history of cooperation with rural grassroots autonomous organizations and cooperatives, and give priority to supporting the construction of affordable rental housing projects using collective commercial construction land.

(5) Guide insurance institutions to provide funds and guarantee support for affordable rental housing. Insurance funds can provide long-term financial support for affordable rental housing projects through direct investment or subscription of debt investment plans, equity investment plans, insurance private equity funds, etc.

Support insurance institutions to provide risk protection for property losses, civil liability, personal accidents and other risks in the construction and operation of affordable rental housing.

(6) Support non-bank institutions to participate in the construction and operation of affordable rental housing in accordance with the law and regulations, and support trust companies and others to leverage their own advantages and participate in the construction and operation of affordable rental housing in accordance with the law and regulations.

3. Grasp the characteristics of the financing demand for affordable rental housing and provide targeted financial products and services (7) Providing long-term loans to self-holding entities of affordable rental housing in a market-oriented manner for the use of collective commercial construction land and idle land owned by enterprises and institutions

, industrial park supporting land, newly supplied state-owned construction land and other new self-sustainable affordable rental housing projects or stock revitalization projects, banking and insurance institutions will provide appropriate services in a market-oriented manner on the basis of comprehensive consideration of enterprise project construction or acquisition and subsequent operational needs.

Products that match their financing needs.