Notice of the People's Bank of China China Banking and Insurance Regulatory Commission on Doing a Good Job in the Current Financial Support for the Steady and Healthy Development of the Real Estate Market, where the relevant policies have an applicable period, the applicable period will be uniformly extended to December 31, 2024.

At the same time, the relevant person in charge of the People's Bank of China and the State Financial Supervision and Administration answered reporters' questions on the notice of extending the policy period of financial support for the stable and healthy development of the real estate market.

Q: What is the background to this policy?

A: On November 11, 2022, the People's Bank of China and the former China Banking and Insurance Regulatory Commission jointly issued the Notice on the Current Financial Support for the Stable and Healthy Development of the Real Estate Market (referred to as the "Notice"), from the aspects of maintaining a stable and orderly real estate financing, actively doing a good job of financial services for insurance and delivery of housing, cooperating with troubled housing enterprises to deal with risks, and increasing financial support for housing leasing. 16 supporting policies have been clarified, two of which specify the application period. After the release and implementation of the "Notice", it has played a positive role in maintaining the reasonable and moderate real estate financing and promoting the resolution of risks of real estate enterprises, and has achieved good policy effects. Considering the current situation of the real estate market, in order to guide financial institutions to continue to extend the stock financing of real estate enterprises and increase financial support for guaranteeing the delivery of buildings, the People's Bank of China and the State Financial Supervision and Administration decided to extend the applicable period of the relevant policies.

Q: Which two policies are involved in the extension?

A: The extension of the policy involves two aspects:

First, for stock financing such as development loans and trust loans for real estate enterprises, on the premise of ensuring the security of creditors' rights, financial institutions are encouraged to negotiate with real estate enterprises independently based on commercial principles, and actively support them through the extension of stock loans, adjustment of repayment arrangements and other ways to promote the completion and delivery of projects. If it expires before December 31, 2024, it can be allowed to extend the term for one year beyond the original provisions, without adjusting the loan classification, and the loan classification submitted to the credit information system shall be consistent with it.

Second, for supporting financing issued by commercial banks to special loan support projects before December 31, 2024, in accordance with the requirements of the Notice, the risk classification will not be lowered during the loan term; The loan entities after the new and old debts are cut off shall be managed as qualified loan entities. For the newly issued supporting financing formed bad, the relevant institutions and personnel have done their duty, can be exempted.

In addition to the above two policies, other policies that do not involve the application period are valid for a long time. All financial institutions should earnestly implement in accordance with the requirements of the document, because the city adopts policies to support rigid and improved housing demand, maintain reasonable and moderate real estate financing, increase financial support for guaranteeing the delivery of buildings, promote the market clearing of industry risks, and promote the steady and healthy development of the real estate market.