In order to implement the spirit of the 19th National Congress of the Communist Party of China and the central economic work conference, the requirements for accelerating the establishment of multi-subject supply, multi-channel security, and rent-and-purchase housing systems, and improving the development of housing leasing market supporting policies, the recent China Securities Regulatory Commission, housing urban and rural On the basis of summing up the preliminary work, the Ministry of Construction jointly issued the Notice on Promoting the Relevant Work of Securitization of Housing Leasing Assets (hereinafter referred to as the “Notice”). Promoting the securitization of housing lease assets will help to revitalize the stock of housing lease assets, improve the efficiency of capital use, and promote the development of the housing leasing market.
The "Notice" clarifies the basic conditions for the securitization of housing lease assets. It mainly includes the fact that the property has been completed and the ownership is clear. The quality and safety standards of the project construction meet the relevant requirements. The relevant procedures for registration of the housing lease have been handled in accordance with the regulations; the property is operating normally and produces a continuous and stable cash flow; the original equity company has sound governance and There have been no major violations of laws and regulations in the past two years.
The Notice identifies priority areas for priority and priority support. Clearly prioritize support for large- and medium-sized cities, Xiong'an New District and other national policy key support areas and use collective construction land to build rental housing projects in pilot cities to carry out asset securitization.
The Notice improved the working procedures for securitization of housing lease assets. Encourage housing leasing enterprises to carry out asset securitization in light of their own operational status and financial needs, clarify the procedures for application, acceptance, review and issuance of housing leasing assets securitization, and check and record the construction of rental housing involved in the development of housing leasing securitization. Procedures such as trading and trading are optimized to establish a green channel and improve work efficiency.
The "Notice" clearly proposes to strengthen the supervision and management of securitization of housing lease assets. In the establishment of a sound business compliance, risk control and management system, the establishment of a sound self-regulatory system, a reasonable assessment of the value of housing lease assets, and strengthen the intermediary agencies and sponsors, and so on.
The "Notice" proposes to create a good policy environment, foster diversified investment entities, encourage specialized institutionalized construction or operation institutions, establish and improve supervision and coordination mechanisms, and support the development of housing lease assets securitization.