On October 28th, Caixin learned (Reporter: Wang Haichun) that the Ministry of Housing and Urban-Rural Development and five other departments have clarified that the scale of "white list" credit is to increase to 4 trillion by the end of the year, prompting many places to accelerate the implementation pace.

Jiangxi Provincial Government recently issued a notice on "Measures for Fully Implementing the National Package of Incremental Policies to Promote the Continuous Recovery and Improvement of the Province's Economy", mentioning that Jiangxi will make efforts to promote the stabilization of the real estate market.

In optimizing existing stock, Jiangxi will spare no effort to ensure on-time delivery, increase the effort in advancing the "white list" work, and complete the delivery targets in a timely manner. In terms of improving quality, Jiangxi will promote reforms in real estate financing methods and commercial housing pre-sale system, improve pre-sale fund supervision system, and steadily advance the pilot reform of current home sales of commercial housing.

Analysts believe that Jiangxi clearly aims to fully ensure on-time delivery and has proposed a pilot reform of current home sales to improve quality, which has a certain demonstration significance. Among these, how the intensity of "white list" project loans is increased, and the progress of its expansion, impacts not only the real estate existing stock market, but also holds important significance for further stabilizing market expectations.

Chen Wenjing, Director of Policy Research at CCPI, pointed out that the increase of the "white list" credit to 4 trillion is considered an important measure to promote the stabilization of the real estate market.

Minister of the Ministry of Housing and Urban-Rural Development, Ni Hong, stated at a press conference on October 17 that by the end of the year, the credit scale of "white list" projects will be increased to 4 trillion.

"The 'white list' mechanism plays an important role in ensuring on-time delivery, improving the corporate funding environment, and stabilizing market confidence," said Chen Wenjing.

In fact, not only jiangxi province, yunnan, guangdong, henan and other places have increased the efforts to promote the landing of the "white list" projects.

In the 18 real estate policies issued by yunnan on October 21st, yunnan clearly stated that it will adhere to the principles of "should be included, should be credited, and credit quickly" to ensure that compliant projects with financing needs are included in the "white list", and increase the intensity of loan issuance. Forming a closed-loop mechanism of push-feedback-repair-inclusion to accelerate the repair of problematic projects and provide loan support.

At the press conference of the Guangdong banking industry for the third quarter of 2024 held on October 22nd, Liu Yunhai, a member of the party committee and a second-level inspector of the Guangdong Financial Supervision Bureau, said that banks in Guangdong have provided credit of 135.018 billion yuan for 404 projects on the "white list" of real estate financing in four batches, of which 331 projects have landed, with a total amount of 83.709 billion yuan, ranking first in the country in terms of the amount landed.

According to information disclosed on October 26th on the official website of the Henan Provincial Government, Henan Province will expand the coverage of "white list" projects to effectively guarantee the funding needs for project construction and help win the battle of ensuring housing supply and smooth delivery.

To this end, Henan will give full play to the role of the urban real estate financing coordination mechanism, include compliant projects in the "white list" management, coordinate and promote the accelerated landing of loans. 706 "white list" projects in the province have been granted credit of 110.1 billion yuan and disbursed 66.6 billion yuan, ranking among the top in the country in terms of credit and disbursement amounts, effectively easing the funding pressure on enterprises.

"Some projects may encounter difficulties in delivery, which may affect the confidence of some homebuyers in the new housing market. The transactions of new homes in some cities have fallen back, which may involve multiple factors such as location, supporting facilities, and prices, but the question of whether the purchased project can be delivered on time and in good quality is also a question that buyers have to consider when buying a house at present. Therefore, ensuring the completion of housing construction is not only a problem for individual enterprises, but may also affect the confidence and expectations of buyers." Lu Qilin, director of research at Anjuke Research Institute, said.

In response to this, a middle-sized real estate company management in shanghai told reporters that although new home sales have declined this year, from their observations and data monitored by third parties, the sales of existing housing sources in the new home market are relatively better than pre-sale houses.

According to the monitoring data of the China Index Academy for the third quarter of 2024, from January to August 2024, the sales of pre-sale commercial housing in the key 100 cities nationwide reached 0.42 billion square meters, a year-on-year decrease of 27.7%; while the sales of existing commercial housing reached 0.18 billion square meters, with a year-on-year growth rate of 18.6%, showing a significant improvement compared to pre-sale houses.

In terms of proportion, the proportion of the sales area of existing houses in the top 100 cities from January to August 2024 accounts for 30.2% of the total sales area, an increase of 7.7 percentage points compared to the full year of 2023.

"Although among these 'existing houses', many may have turned from scheduled houses to existing houses due to slowed sales, a noteworthy phenomenon is that the market performance of existing house sales is indeed better than scheduled houses. Why does this phenomenon occur? We believe that part of the reason may be delays in the delivery of some projects, or even unfinished projects, which have had some adverse effects on the market. Stability in market confidence involves multiple aspects and levels, with ensuring delivery being a crucial aspect. If existing house sales represent a higher goal, then the whitelist mechanism is considered by the industry as an important measure to ensure that projects can be delivered, allowing buyers to purchase with peace of mind, which will play a solid role in strengthening market confidence." The management of the above-mentioned real estate company in Shanghai said in an interview with reporters.

Yan Yuejin, Deputy Director of the E-House Research Institute, also believes that the "whitelist" mechanism is a very important leverage point in the current real estate delivery protection work. For real estate companies, the whitelist mechanism can effectively solve the delivery protection work of real estate companies and help alleviate financial pressure.

"In addition to price factors, whether the houses can be delivered on time and with good quality is crucial for the real estate market trends. From the recent measures in various regions, as well as some projects with price increases and fast transactions, it can be seen that existing house projects receive more market attention and have a very good turnover situation. From this perspective, the implementation of the 'whitelist' mechanism, which continues to progress, will increase buyer confidence and provide more sustained motivation. Because houses have clear delivery milestones, buyer confidence can truly increase, thus truly helping the real estate market stabilize and promote healthy market development," said Yan Yuejin.