Before the relevant responsible person revealed
audit, the audit of the 36 area of debt, have 9 provincial capital city level gbeijing real estateovernment
debt rate of more than 100%. In this regard, deputy director of the
Research Office of the State Council Huang Shouhong pointed out, if
strict audit, some local governments have been bankrupt, just behind the
national reputation to maintain. In fact, local governments rely on the
economic development of the real estate market model is not
sustainable.
from June to July, many local real estate market prices soar
together of the situation, the most obvious first-tier cities.
Throughout the land leasing income and real estate taxes began to
harvest, it relieves the pressure of local debt. But, even so, the
consequences of local government investment impulse, just be alleviated
or be delayed, but not be resolved. Detroit bankruptcy does not allow
local governments around the alert, impulsive investment still like a
raging fire, they expect to borrow heavily, to pay off the debts to rely
on income from real estate.
Zhuhai City financial data display, last year 40.8% of the land
income used to repay bank loans. Ministry of land and resources data
also show, the first half of the national land leasing contract price
has been as high as 1.7 yuan, an increase of 77.3%, also a record high,
the real estate land sale price year-on-year increase of more than $90%,
the land leasing part used to repay bank loans. Land rich "dividend
income as inexhaustible be inexhaustible" shake Qian Shu ", this is a
lot of local government dare massive borrowing business city where the
emboldened. If there is a risk, and finally by the state credit support.
Even on the verge of bankruptcy, also has given the divestiture of
non-performing assets, debt is greater, more afraid to fall China
parties, that is "too big to fail".
the governmenrent villa beijingt
access to credit funds into infrastructure construction, promote the
development of the property market, pulling the land income and tax
income, then borrowed huge capital investment in municipal construction,
through this cycle all over the floor, the more cover the higher the
better, road repair, officials more and more beautiful, but, the key
development is to the real estate market to ensure long-term excited, if
a period of time the real estate market cachexia, this pattern will
appear crisis. For a long time, the property market outshines others are
deeply rooted in politics and economics.
the property market is the market, even every day to eat excitant,
can not be all the time to keep the excitement. The viewpoint thinks,
the past "regulatory policy ten years nine tune" because prices continue
to rise and lost, in fact, no insight into the real property market
regulation. These views. The regulation of the property market is not a
simple control prices rise, but is intended to control pricesvilla beijing
rise and fall. Because prices rise and fall as a fuse, will detonate
the whole land financial system, so that the local economy or into cold
storage, either into the fire.
these years, in real estate regulation importance, not allow house
prices soaring at long term, the real estate market bubble rapid
generation, rapid rupture. The property market will change radically,
fundamentally hurt land finance, therefore, control policy.
