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Beijing’s real estate market sales are still sluggish, and house prices have loosened.


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  BEIJING, Nov. 19 (Xinhua)-The Beijing Municipal Bureau of Statistics announced on its official website today the operation of Beijing’s real estate market from January to October. In October, Beijing’s real estate development activities resumed, but under the background of overall economic slowdown and strong wait-and-see mood of buying houses, the main indicators of the real estate market are still running at a low level.


  First, development investment has rebounded, but the overall trend is still downward.


  From January to October, the city’s investment in real estate development was 131.53 billion yuan, a decrease of 7.3% compared with the same period of last year, and the decrease was 0.8 percentage points lower than that in the previous three quarters. Among them, the construction in August and September was restricted, and the investment in development was 6.87 billion yuan and 11.16 billion yuan respectively, down by 56.8% and 36.7% year-on-year; The investment in development completed in October rebounded to 17.84 billion yuan, down 1.8% from the same month last year.


  The progress of the project construction has not been significantly accelerated.In October, the progress of project construction was not accelerated on a large scale, and the number of projects with construction activities has not recovered to the level before the Olympic Games. The investment in Jian ‘an project was small: only 5.66 billion yuan was completed in October, down 36% from last October. From January to October, the investment in Jian ‘an project was 61.76 billion yuan, down 17.9% year-on-year, and the decline was 2.5 percentage points higher than that in the previous three quarters.


  Second, the pace of market supply slowed down, and the completed residential area fell by over 30%.


  The construction area and new construction area continue to decline.Since July, with the limited construction and the slowdown of land acquisition by enterprises, the growth rate of development area has dropped significantly. In October, affected by subjective and objective factors, the construction and new construction area continued to show a downward trend. At the end of October, the construction area of commercial housing in the city was 90.159 million square meters, down 5.7% from the same period of last year, and the decline was 3.4 percentage points higher than that at the end of September. Among them, the residential construction area was 49.829 million square meters, down by 7.9%. From January to October, the newly started area of commercial housing in the city was 17.087 million square meters, down 8%, and the decline was 6.5 percentage points higher than that in the previous three quarters. Among them, the newly started residential area was 11.398 million square meters, down 3.9%.


  The completed area continues to decline.Since December of last year, the completed area has been declining continuously. From January to October, the completed area of the city was 14.237 million square meters, down 8.3% from the same period of last year. Among them, the completed residential area was 7.692 million square meters, down 32.1%.


  Third, the market sales are still sluggish, and the role of affordable housing is obvious.


  The wait-and-see mood in the real estate market is still strong.In late October, the Ministry of Finance and the Central Bank jointly issued a package of policies to encourage housing consumption. However, under the background of economic slowdown, the price of commercial housing is still beyond the affordability as a demand for self-occupation or improvement, and as an investment demand, the wait-and-see mood in the sales market is still strong when the expected risks outweigh the benefits in the future. From January to October, the sales area of commercial housing in the city was 8.308 million square meters, down 49.6% over the same period of last year, of which the sales area of residential housing was 6.175 million square meters, down 54.2%. In October, the residential area sold was 1.124 million square meters, down 45.7% from the same month last year.


  Policy-oriented housing sales have become the main factors driving market sales, with price-limited housing and affordable housing accounting for about two-thirds of the total number of residential sales in that month.From January to October, the city sold 56,115 sets of commercial housing, of which 13,042 sets were sold in October, which is the month with the largest number of sales since this year. From the perspective of selling houses, it is mainly that a large number of contracts were signed between price-limited houses and affordable houses in October, which boosted the sales volume of houses. The data shows that in October, 8766 sets of price-limited houses and affordable housing were sold, accounting for about two-thirds of the sales in that month. After deducting the above factors, the actual sales of pure commodity houses are still hovering at a low level.


  Four, the real estate sales price has loosened, and the funds in place of enterprises have declined overall.


  The year-on-year growth rate dropped, and the chain price continued to fall.In October, the year-on-year increase in housing sales prices in our city continued to fall, rising by 5.2%, which was 1.7 percentage points lower than that of the previous month; After the decline last month, the chain price continued to decline this month, falling by 0.2%, which was the same as last month. Among them, the price of new residential buildings continued to fall, down 0.1% from the previous month, and the decline slowed down. The sales price of second-hand houses decreased for three consecutive months, and decreased by 0.4 percentage points in October.


  The funds put in place by real estate development enterprises this year have declined in an all-round way.From January to October, the source of funds for real estate development enterprises in our city this year was 237.55 billion yuan, down 23.2% from the same period of last year, and the decline was 8.9 percentage points higher than that in the previous three quarters. Among them, financial loans were 70.93 billion yuan, down 17.9%; Self-owned funds were 35.11 billion yuan, down 6.7%; Deposits and advance receipts were 70.48 billion yuan, down 36.1%.

Editor: Li Dan

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The Ministry of Housing and Urban-Rural Development fully gives urban real estate control autonomy, and cities can adjust their real estate policies according to local conditions.

January 26, 2006: The Ministry of Housing and Urban-Rural Development held a deployment meeting of urban real estate financing coordination mechanism this morning. The meeting demanded that we should adapt to the new situation that the relationship between supply and demand in the real estate market has undergone major changes, speed up the construction of a new model of real estate development, combine the long and short, treat both the symptoms and the root causes, and promote the stable and healthy development of the real estate market. It is necessary to adhere to the policy of the city, precise policy, one city and one policy, make good use of the policy toolbox, and fully give urban real estate regulation and control autonomy. Cities can adjust their real estate policies according to local conditions.

It is necessary to work out the housing development plan, improve the housing supply system of "guarantee+market", establish a new linkage mechanism of people, housing, land and money, improve the basic system of housing life cycle, implement the construction of affordable housing, the construction of public infrastructure for emergency use and the transformation of villages in cities, and build a green, low-carbon, intelligent and safe house. It is necessary to rectify the order of the real estate market, rectify the chaos in real estate development, trading, intermediary and property, expose typical cases of violations of laws and regulations, and earnestly safeguard the legitimate rights and interests of the people.

Yesterday, Xiao Yuanqi, deputy director of the State Financial Supervision and Administration Bureau, attended the press conference of the State Council Office and said that the real estate industry has a long chain and a wide range, which has an important impact on the national economy and is closely related to the lives of the broad masses of people. The financial industry is duty-bound and must be strongly supported.

Xiao Yuanqi said that accelerating the implementation of the coordination mechanism of urban real estate financing is effective, requiring banks to act as soon as possible. Under the lead coordination of the urban people’s government, together with the housing and construction departments, the policy toolbox will be used well because of the city’s policy, and the reasonable financing needs of real estate projects will be more accurately supported.

Support local city governments and housing construction departments, further optimize individual housing loan policies such as down payment ratio and loan interest rate due to city policies, and guide and urge banks to better serve the financing needs of the broad masses of people’s rigid and improved housing. Guide and require banks and other financial institutions to vigorously support the construction of "three major projects" such as "emergency and emergency" major infrastructure and urban village reconstruction, and demand that the physical workload be formed as soon as possible.

Previously, the Ministry of Housing and Urban-Rural Development and the General Administration of Financial Supervision jointly issued the Notice on Establishing a Coordination Mechanism for Urban Real Estate Financing, requiring cities at or above the local level to establish a coordination mechanism for real estate financing, build a communication platform between government, banks and enterprises, and promote the accurate docking of housing enterprises and financial institutions.

Guojin Securities pointed out that the real estate sector is at the double bottom of performance and valuation, and the policy catalyzes or welcomes layout opportunities. The improvement of operating property loan policy can improve the cash flow of housing enterprises to a certain extent, and the key to the stable and healthy development of the industry lies in the stabilization of sales, which still needs the continuous support of loose policies.

Ping An Securities believes that this time, financial institutions and the General Administration of Financial Supervision jointly issued a notice on doing a good job in the management of operating property loans, refining the requirements for the management of commercial banks’ operating property loans, such as caliber, duration, quota and use, and further broadening the financing channels of real estate enterprises.

Meet the reasonable financing needs of real estate enterprises with different ownership equally

Ni Hong, Party Secretary and Minister of the Ministry of Housing and Urban-Rural Development of the People’s Rerublic of China attended the meeting and stressed that accelerating the implementation of the coordination mechanism of urban real estate financing is effective, supporting the development and construction of real estate projects, meeting the reasonable financing needs of real estate enterprises with different ownership equally, and promoting the stable and healthy development of the real estate market.

All localities should pay close attention to research and put forward a list of real estate projects that can be given financing support to accurately and effectively support reasonable financing needs.

The meeting emphasized that the orderly development and construction of the project is the basis for the stable and healthy operation of the real estate market and is related to the vital interests of the people. In view of the current financing problems of some real estate projects, all localities should focus on projects, study and put forward a list of real estate projects that can be given financing support, coordinate the issuance of loans by financial institutions within their respective administrative regions, and accurately and effectively support reasonable financing needs. Credit funds should be ensured to be operated in a closed way and used in compliance, and misappropriation should be resolutely prevented. At the provincial level, it is necessary to track and monitor the implementation and strengthen supervision and guidance. At the national level, an information platform for urban real estate financing coordination mechanism projects will be established, and weekly scheduling and monthly notification will be implemented.

The meeting demanded that we should adapt to the new situation that the relationship between supply and demand in the real estate market has undergone major changes, speed up the construction of a new model of real estate development, combine the long and short, treat both the symptoms and the root causes, and promote the stable and healthy development of the real estate market. It is necessary to adhere to the policy of the city, precise policy, one city and one policy, make good use of the policy toolbox, and fully give urban real estate regulation and control autonomy. Cities can adjust their real estate policies according to local conditions. It is necessary to work out the housing development plan, improve the housing supply system of "guarantee+market", establish a new linkage mechanism of people, housing, land and money, improve the basic system of housing life cycle, implement the construction of affordable housing, the construction of public infrastructure for emergency use and the transformation of villages in cities, and build a green, low-carbon, intelligent and safe house. It is necessary to rectify the order of the real estate market, rectify the chaos in real estate development, trading, intermediary and property, expose typical cases of violations of laws and regulations, and earnestly safeguard the legitimate rights and interests of the people.

The list of the first batch of real estate financing coordination mechanism projects will land before the end of the month.

The meeting proposed that an information platform for urban real estate financing coordination mechanism projects will be established at the national level, and weekly scheduling and monthly notification will be implemented. The Ministry of Housing and Urban-Rural Development has made great efforts to implement the mechanism. It is understood that before the end of this month, the first batch of projects can win loans after landing.

This article comes from: financial circles

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What did the 20-year war leave for Afghanistan?

  【 honk 】

  In 2021, it is the 20th anniversary of the "9.11" incident that shocked the world, and it is also the 20th anniversary of the Afghan war launched by the United States. As the longest war in American history, it made the United States pay a heavy material price and casualties, and finally forced the United States to start withdrawing troops from Afghanistan. On April 14, 2021, the Biden administration of the United States announced that it would withdraw all US troops stationed in Afghanistan by September 11. However, 20 years later, what has this war left for Afghanistan?

  Turbulent, divided and impoverished Afghanistan

  After the "9.11" incident, the United States quickly launched the war in Afghanistan, overthrew the Taliban regime and drove away Al Qaeda. In the following 20 years, the United States continued the war on terrorism in Afghanistan, promoted post-war reconstruction and carried out so-called democratic transformation. As a result, Afghanistan has established a so-called Western-style democratic republic, achieved low-speed economic growth, and established a national security force.

  However, 20 years later, Afghanistan is still a conflict and turbulent country. A strategic goal of the United States in launching the war in Afghanistan is to make Afghanistan no longer a breeding ground for terrorism, but this goal has not been achieved. Because although the Taliban has been overthrown as a regime, it has been reorganized since 2003. So far, it has developed into an anti-American and anti-government political and military organization with more than 80,000 members. In addition to the Taliban, various extremist organizations such as Al Qaeda and the Khorasan branch of the Islamic State are also very active in Afghanistan. According to the annual Global global peace index released in June 2019, Afghanistan has replaced Syria as the most insecure country in the world. In the past 20 years, the conflict has brought a serious humanitarian disaster to Afghanistan. As of 2019, more than 40,000 civilians have died in Afghanistan, more than 60,000 people have been injured, and about 11 million people have become refugees.

  Afghanistan remains a de facto divided country. The United States and the Afghan government it supports cannot effectively govern the whole country, and mainly control the central and western regions and the northern regions, as well as large and medium-sized cities and transportation trunk lines throughout the country. The Afghan government is also inseparable from the military protection of the United States and its western allies. In addition, it also faces difficulties such as low governance efficiency and rampant corruption. On the other hand, the Taliban has controlled many areas such as southeastern and southern Afghanistan, and implemented effective management in a solid jurisdiction. For example, the implementation of Islamic law, providing protection to local people and helping to resolve civil or commercial disputes, actually forms a political separation trend with the Afghan government.

  Afghanistan is also one of the least developed countries in the world. The industrial and agricultural foundation is weak, food is not self-sufficient, the economy is heavily dependent on foreign aid, finance is not self-reliant, and people’s lives are hard. 2019— In fiscal year 2020, Afghanistan’s GDP was about 18.89 billion US dollars, and its per capita GDP was only 586.6 US dollars. Although Afghanistan’s fiscal revenue has increased year by year, it has been unable to make ends meet for many years, and 60% of its budget comes from international aid. The unemployment rate has been rising for many years, reaching 40% in 2019. Some laborers can only earn about $60 a month, making it difficult to support their families.

  American factors that can not be ignored

  The war on terrorism and the failure of reconstruction in Afghanistan are the result of various factors. However, as a promoter and leader, the American factor cannot be ignored. The reason is:

  First, after the end of the Cold War, the United States became the only superpower in the world, and hegemonism and militarism expanded, which led to the "anti-terrorism" front being stretched too long. The war in Afghanistan is the first war fought by the United States since the 21st century. In just over two months, it overthrew the Taliban regime and drove away Al Qaeda. In 2003, the aspiring United States launched the second war, the Iraq war, which quickly overthrew Saddam Hussein’s regime and then began the so-called democratic transformation in Iraq. If the United States attacked Afghanistan, it won the sympathy of the international community, but its attack on Iraq was completely unilateral and did not get the authorization of the United Nations. At the same time, the United States carried out the "anti-terrorism" war and the so-called democratic transformation in two countries, which led to the long front and the shift of strategic center, greatly underestimating the determination and strength of the Taliban to make a comeback. It was after the Iraq war in 2003 that the Taliban began to recruit and organize a large number of new forces and rebuild their intelligence and action networks, thus achieving strategic reorganization.

  Second, in the past 20 years, American troops stationed in Afghanistan have frequently killed and killed innocent civilians, ignored local religious and cultural customs, and the incidents of humiliating corpses and abusing prisoners have been constantly exposed, which has aroused the anti-American sentiment of the Afghan people and prompted more people to join the anti-American anti-government team. For example, from January to April 2012, incidents in which American soldiers insulted the bodies of anti-American militants in Afghanistan were exposed one after another. In February, soldiers stationed in the US military base in Afghanistan burned a large number of religious books including the Koran. In March, an American soldier shot and killed 16 innocent Afghan civilians. This series of incidents has triggered large-scale anti-American protests in Afghanistan and neighboring countries, and the Taliban also took the opportunity to strengthen retaliatory attacks on US troops stationed in Afghanistan. Over the past 20 years, the American media have repeatedly disclosed various incidents of prisoner abuse by the US military and intelligence departments. In 2017, a prosecutor of the International Criminal Court decided to fully investigate possible war crimes and crimes against humanity committed by the United States.

  Third, the so-called western-style democracy may not be suitable for Afghanistan’s national conditions. Modern western democratic system can be generally established in European and American countries, which has gone through hundreds of years. During this period, it experienced the enlightenment of the Renaissance and the religious revolution, the direct promotion of the industrial revolution, and the repeated baptism of the bourgeois revolution. However, Afghanistan does not have the corresponding economic, class and ideological and cultural foundation. First of all, Afghanistan is one of the least developed countries in the world, with a low level of productivity. Secondly, since the 20th century, the capitalist economy has developed to a certain extent in Afghanistan, and a constitutional monarchy or a republican regime was established in the 1960s and 1970s. However, on the whole, the polarization between the rich and the poor in Afghanistan is wide, and about 40% of the population still lives below the poverty line. Thirdly, there are many tribes and ethnic groups in Afghanistan, and their identity is higher than that of the state, resulting in serious social and political polarization. Afghanistan is an Islamic country, and most people believe in Islam. It is difficult for many people, especially the middle and lower classes, to accept western democratic values. In such a country, Western-style democracy may aggravate the political and social division in Afghanistan, leading to national instability and ineffective governance.

  It can be seen that the war in Afghanistan, which lasted for nearly 20 years, left a turbulent, divided and poor Afghanistan, and the United States should deeply reflect on its wrong policies.

  (Author: Wang Feng, Unit: China Institute of African Studies, China Academy of Social Sciences)