On April 28, the General Office of the Guangdong Provincial People's Government released the "Guangdong Financial Action Plan to Support Enterprises Affected by the Epidemic to Relieve Difficulties and Stabilize Economic Growth" (hereinafter referred to as the "Plan").

In response to the current real estate market, the plan points out that residents’ reasonable housing credit needs will be actively supported.

Implement differentiated housing credit policies according to city policies, and reasonably determine the minimum down payment ratio and minimum loan interest rate requirements for commercial personal housing loans within the jurisdiction.

The plan proposes 6 key tasks, the third of which is "promoting the stable and healthy development of the real estate market", requiring the Provincial Development and Reform Commission, the Department of Housing and Urban-Rural Development, the Local Financial Supervision Bureau, the Guangzhou Branch of the People's Bank of China, the Guangdong Banking and Insurance Regulatory Bureau and other relevant

The unit implements the work according to the division of responsibilities.

There are three key tasks in this work: Actively support residents’ reasonable housing credit needs.

Adhere to the positioning of "houses are for living in, not for speculation", implement differentiated housing credit policies according to city policies, and reasonably determine the minimum down payment ratio and minimum loan interest rate requirements for commercial personal housing loans within the jurisdiction.

Banks are encouraged to reasonably determine mortgage standards and improve the convenience of borrowing and repayment for new citizens who meet the requirements of home purchase policies, have the ability to purchase homes, and have relatively stable incomes.

Provide financial services for mergers and acquisitions of real estate enterprise risk disposal projects.

All localities should urge real estate companies involved in risks to actively rescue themselves and eliminate risks, and relevant provincial departments should strengthen coordination, guidance and project promotion and docking.

Financial institutions are encouraged to increase their support for high-quality real estate projects and support "Guaranteed Delivery of Properties" in accordance with the principles of marketization and rule of law.

Support financial institutions in providing bond issuance, financing consulting and other services for risk disposal project transfers, mergers and acquisitions of key real estate enterprises.

Encourage high-quality real estate companies to issue corporate credit bonds and raise funds for mergers and acquisitions of risk disposal projects.

Explore new models for financial asset management companies based in Guangdong and local financial asset management companies to participate in the asset disposal of high-risk real estate companies.

Improve the long-term mechanism for the virtuous cycle development of finance and real estate.

Support financial institutions to actively connect and meet the needs for financial services such as development and construction, purchase, renovation, operation management, and transaction settlement of affordable rental housing.

Support listed real estate companies in accordance with laws and regulations to actively transform into new development models, strengthen their own risk management, and improve bond financing support mechanisms.

Support insurance funds to 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.

Financial institutions are encouraged to appropriately increase support such as liquidity loans to meet the reasonable financing needs of construction companies and maintain continuous and stable financing for construction companies.