life in the sky

The small courtyard of Yi Le Tang was extremely quiet, as soon as Mu Guoxing's big red flag stopped at the entrance of the small courtyard, Zhao Ting came up to greet him.No matter how late Mu Guoxing was in the meeting, several women would take turns waiting for him.

"The children are asleep?"

"You're really interesting. It's already two o'clock in the morning. Can you still not sleep at this time?"

Mu Guoxing looked at Zhao Ting with a smile: "Then you should also go to rest."

"Aren't I waiting for you?"

Mu Guoxing had a smirk on his face: "Oh, I remembered, are you on duty today?"

Zhao Ting blushed and spat at Mu Guoxing: "Go, it's all grown up, and it's time to talk. Don't talk nonsense with you. I'll go to the kitchen and bring you the soup."

After the leak point passed, Zhao Ting used her tender little hands to scratch Mu Guoxing's strong chest non-stop: "My father and mother are going back to Hexi tomorrow."

Mu Guoxing nodded: "It's a pity that I don't have time to send him off to the old man. Have you prepared all the gifts for them?"

"You don't need to worry about these things. Sister Ling'er has already prepared it. I want to discuss something with you. How about taking Zhonghua back to Hexi for a while?"

Mu Guoxing knew that Zhao Decun and his wife were missing their grandson. Although they had met here several times, they did not dare to express their intimacy too much. It would be better to have the freedom of getting along in private and enjoy the family relationship more Joy.

"I have no objection. It's good to bring Zhonghua back to Hexi for a while, so that Zhonghua and the two old people can get close to each other. Anyway, your parents are also his grandparents."

Zhao Ting nodded, closed her eyes in satisfaction, and after a while, there was a sound of even breathing. Mu Guoxing lost sleepiness, and looked at the ceiling thinking a lot.

In less than a year, there will be a general election. Judging from the current situation, if there are no major changes, it is a foregone conclusion that Mu Guoxing will enter the leadership core.According to the opinion of several bigwigs, it is possible for Mu Guoxing to serve as the deputy prime minister in charge of the national economic work, and the current real estate market rectification work is a severe test for him.

According to this survey, the real estate market in various places has serious problems, among which the central plains province is the most serious. In a province with an underdeveloped economy, the real estate prices are among the best in the country, and the income from land sales accounts for the entire fiscal 80.00% of income, which is extremely abnormal.

The rectification is definitely going to be carried out, but if this bend is made too quickly, the economy of the Central Plains will inevitably decline sharply. There has been a serious economic downturn, and the impact on the current central leadership is also very bad. It seems that a proper solution must be found.

In the afternoon of the next day, Sun Shuting, the executive deputy mayor of Beijing City, came to Yi Le Hall. Needless to say, Mu Guoxing could guess that Sun Shuting came this time to ask for instructions on the rectification of the real estate market.

"Sir, at the enlarged meeting of the Standing Committee this morning, Secretary Mu conveyed the spirit of the Politburo's instructions on carrying out the real estate market rectification work across the country. The Standing Committee decided that I should be the leader of the real estate rectification leading group. I am still a little uncertain about some issues. .”

"I have read the report of the Beijing Municipal Government on the current situation of real estate. It is very good. It also pointed out the problems in the development of real estate in Beijing. The rectification of real estate should be done according to local conditions, and a road suitable for the actual situation of the region must be found. Come on, don’t blindly copy the rectification model from other places.”

Sun Shuting nodded: "According to what we know, the real estate market in Beijing is very complicated. To give a simple example, at the southeast corner of the intersection of Xingguo Road and Beidaqiao Road, there is a building with a total construction area of ​​23 yuan. The real estate No. 8 project with more than one square meter has entered the pre-sale stage. Based on the project’s selling price of more than 7 yuan per square meter, its market value is at least 15 billion yuan. However, the start-up capital of this project is only 5 Most of the funds came from bank loans and stock market misappropriation, which is a typical profiteering project.”

Due to the complex background of this project, many senior officials were involved, and there was a lot of discussion in the capital some time ago.Three years ago, Yongye Real Estate, a subsidiary of Jingdu Real Estate Exhibition Co., Ltd., acquired this piece of land with an area of ​​2.745 square meters and a planned construction area of ​​23.29 square meters.According to the public information of Jingdu Real Estate, the net assets of Yongye Real Estate were less than 3 yuan, and the registered capital was only 5 yuan.It will undoubtedly be difficult to independently and successfully operate this large project with an estimated investment of several billion yuan.

VIP 370 [-] Chapter [-] Exchange of Opinions (Second Watch for Flowers)

The two talked for more than two hours on the rectification of the real estate market in Beijing. As the conversation deepened, a set of implementation plans gradually came into being.

This set of plans includes a very wide range, not only taking into account the difficulties that may arise in the real estate market rectification work, but also taking into account human factors.Mu Guoxing and Sun Shuting knew very well that the key to the smooth progress of the rectification work was that those intricate interpersonal relationships were difficult to deal with. Once they were not handled properly, the sequelae would be endless.

The capital city is the political, economic and cultural center of the country, and its influence is also huge. If the capital city can take a good lead in the real estate consolidation and succeed, this work will be carried out in other provinces and cities.

Now that the capital is carrying out the rectification of the real estate market, Mu Guoxing has many favorable conditions. First, Mu Congwen is Mu Guoxing's third uncle, so it is impossible for him not to support Mu Guoxing's work. The leader of the rectification leading group firmly grasped the power of real estate market rectification. Perhaps this was deliberately arranged by Mu Congwen to support the rectification.

During the meal, Sun Shuting asked: "Master, there are still a few months before the general election, will you enter the core leadership?"

Mu Guoxing smiled but did not answer, and said after a while: "It depends on the arrangement of the central government and the specific situation. Before everything becomes a fact, there are variables."

After many aspects of coordination and adequate preparation, the Regulatory Commission issued the "Several Regulations on Conscientiously Consolidating the Real Estate Market". The document pointed out that: the current real estate market regulation is in a critical period, and the direction of regulation must be unwavering and the intensity of regulation must not be relaxed. , Unswervingly grasp the implementation of various policies and measures, and constantly consolidate and strengthen the effect of regulation and control.

The main content of the next step of rectification work is: First, we must strictly implement the local government's real estate market regulation and housing security duties.Second, we must improve relevant policies and measures, increase government investment and loan support, and ensure that construction of 1 million units of affordable housing will start before the end of November this year.Third, we must continue to strictly implement differentiated housing credit, tax policies, and housing purchase restrictions, curb speculative investment in housing purchases, and rationally guide housing demand.Fourth, we must conscientiously implement this year's housing land supply plan, ensure affordable housing land, and accelerate the release of land for ordinary commercial housing.Fifth, we must standardize the housing rental market and curb excessive rent increases.

The document also clearly stipulates that when carrying out real estate development in various places, the construction of small-sized houses should not be lower than 3%, and governments at all levels should allocate no less than 5% of the land in the land transfer, and jointly carry out real estate development with real estate developers. Prices are sold to people who really need housing, and state officials and their relatives are strictly prohibited from participating in the purchase of affordable housing. Once discovered, the parties will be severely punished.

The document finally stipulates that in the process of real estate consolidation, an inspection system should be adopted. The control committee will form several groups to conduct inspections in various provinces and cities from time to time, and deal with existing problems in a timely manner.

If the regulation is still relatively light, the implementation of accountability is undoubtedly a complete blow to some people's illusions.It is an open secret in the officialdom that there are policies at the top and countermeasures at the bottom. The implementation of any policy will touch the interests of some people.Although some people dare not blatantly oppose it, it is unavoidable to engage in small actions secretly. It is precisely because of these factors that the central government's decrees are not implemented seriously, or the final implementation is nondescript.

The implementation of the accountability system has fundamentally eliminated the soil for these factors. If any provincial or municipal leader dares to ignore the policies of the central government, take negative countermeasures, and fail to seriously implement the regulations of the Regulatory Commission on the rectification of the real estate market It stipulates that the Organization Department of the Central Committee and the Central Commission for Discipline Inspection will immediately start the accountability process. For these cadres who have made mistakes, they will be given severe internal party sanctions, and their work will be adjusted in severe cases.

This document was issued in the name of the central government, and it immediately aroused huge repercussions across the country. All the officials in the frontier realized that the central government was serious this time. What I said above is very important. In the end, there was a lot of thunder and rain, and the ground was wet after the rain, which did not have any effect at all.

The interests of the department and the region are important, and the official hat on one's head is also important. Compared with the two, the official hat on the head is more important.Especially since general elections are about to be held in various places, no one dares to make jokes with their black hats at this time.

Each of these feudal officials has their own sources of news in the capital, and they can also judge based on some circumstances, who will be the next leadership group of the central government, and what these people are most concerned about now.Although the judgment is not so accurate, at least there can be a ** that is close to ten.

The establishment of the Economic Work Regulation Committee by the central government is to gradually adjust the focus of economic development from the extensive development path, and the rectification of real estate is the focus of economic adjustment work. This has been agreed at the Politburo meeting.Mu Guoxing is the specific organizer and implementer of this work. Everyone knows that this means that Mu Guoxing, the red prince, is very likely to enter the new leadership core of the central government in the general election.

As the saying goes, everything is difficult at the beginning, and the formulation and implementation of a policy requires the solicitation of opinions from many sides.Although the Politburo meeting has determined that the rectification of the real estate market will be included in the focus of future economic regulation and control work, the specific work will be coordinated by Mu Guoxing, and coordination is also the ultimate test of a person's ability to work. good timing.

In a modest office on the 19th floor of Diaoyutai, Vice Premier Hou, who is in charge of national financial work, is having a cordial conversation with Mu Guoxing.

Vice Premier Hou was very happy about Mu Guoxing's personal visit this time.Since Vice Premier Hou put forward different opinions on Mu Guoxing's proposal at the last Politburo meeting, after several months of observation, the situation in the financial market has not shown any signs of improvement, but is gradually deteriorating.

Vice Premier Hou also realizes now that he made a small mistake in not agreeing to Mu Guoxing's suggestion on financial regulation at the last Politburo meeting.Facts have proved that Mu Guoxing's opinions on the regulation of the financial market are still very correct.Afterwards, Vice Premier Hou also wanted to talk to Mu Guoxing several times, but because of his busy work and the face problem that everyone has, so his idea was delayed again and again.

Yesterday afternoon, Mu Guoxing personally called Vice Premier Hou, saying that he wanted to exchange opinions with Vice Premier Hou. With such a good opportunity, Vice Premier Hou naturally accepted it and postponed all the arrangements for this morning. Specially waiting for Mu Guoxing in the office.

"Comrade Guoxing, it turns out that the regulation of financial work that you proposed at the Politburo meeting last time is still very necessary. In recent days, I have also exchanged views with Vice Premier Gao on this issue many times. Today I am very happy that you can take the initiative to come to me."

"Vice Premier Hou, it is normal to have different opinions on work. This is also because I did not communicate with you in time in advance. Financial work is not only special but also has an obvious time period. Some problems need to be exposed in a timely manner. of."

Vice Premier Hou nodded: "You are quite right. The traditional business cycle is mainly caused by investment and overcapacity, but the current economic and financial market problems are partly caused by policy defects or insufficient supervision. The most important function of a healthy and strong capital market is to continuously send fresh funds to real enterprises, but judging from the current situation, the situation is not optimistic." Mu Guoxing said: "Although the A-share market is currently The financing function has resumed, and although the financing volume has reached a record high, which is higher than the sum of the annual financing volume at the top of the past several bull markets, it is still only a 'recovery'. This market is not healthy and strong enough to provide a steady stream of brick-and-mortar companies The degree to which fresh capital blood can be sent in a timely manner.”

VIP two thousand 370 six chapters draw from the bottom

"Comrade Guoxing is right. We have already noticed the problems in this area. Now the financial market is mainly composed of the Growth Enterprise Market and venture capital, the third board market, the property rights trading market, the bond market, stock index futures, and the foreign exchange market. Banks, insurance, investment banks, interest rate markets, property markets, etc. For investors, the establishment of a multi-level financial market will provide us with richer investment varieties and fundamentally solve the problem that ordinary people’s investment varieties and investment channels are too single This means that investors will have more investment opportunities and more diversified investment styles. The core issues of our country's financial market will face major changes, which will also prompt our country to make changes in our country's financial guidelines and policies. timely adjustments."

As expected, Vice Premier Hou has a background in finance, and when he talked about issues in this area, he said clearly: "I think this change is due to the changes in the real estate market, stock market, bank, foreign exchange market, bond market, interest rate market, and futures market. The problem of finding a new balance point. Multi-level markets, diversified styles, and any market imbalance may bring huge risks to the entire financial system. Therefore, this is the key to my country's financial problems for a long period of time in the future. The root of it."

One of them studies economics and the other studies finance. It can be said that they have quite a lot in common in this regard. If we really discuss it in depth, we can't finish it in a few days.But today Mu Guoxing came to find Vice Premier Hou not for academic discussions, but for other purposes. Taking advantage of the time when Vice Premier Hou was drinking tea, Mu Guoxing said: "Vice Premier Hou, I am here today You mainly want to communicate with you about bank credit issues."

"Oh, what's your opinion, Comrade Guoxing?" Vice Premier Hou put down his teacup and continued, "I've wanted to communicate with you on this issue for a long time."

Mu Guoxing said: "my country's house price rise has been greatly accelerated in recent years, and the real estate market is clearly showing signs of overheating, especially the year before the financial crisis. The proportion of commercial bank real estate loans to new loans has reached 76, housing prices in some cities have even risen sharply at a double-digit rate, which cannot but arouse our great concern.”

Vice Premier Hou did not speak, but listened silently, and Mu Guoxing said again: "As time goes by, the economic adjustment cycle under continuous macro-control has become more and more clear, and the preconditions that previously supported the high growth of real estate are being Gradually disappearing, the objective basis for the rapid expansion of real estate credit of commercial banks no longer exists. For this trend change, commercial banks must be highly vigilant against the real estate market entering a downward channel, which may lead to systemic risks.”

Mu Guoxing took out a document and said: "This is a report sent by the Beijing Municipal Government. According to the information they have, the problem is still very serious. Now the proportion of loans for real estate development in commercial banks is unexpectedly high." It has reached above 8o, which is very rare in the world and also violates the laws of economic development. Once the real estate economic bubble bursts, the damage to our country's economic development will be fatal."

"Comrade Guoxing, what can we do in this regard?"

"Strictly control the support of commercial banks for real estate credit, and adopt a series of strong measures to reduce the proportion of real estate loans."

Vice Premier Hou nodded. He knew what Mu Guoxing said was true.If the central government strictly rectifies the real estate market, it will inevitably lead to a comprehensive decline in housing prices, which will increase the risk of banks.In this way, the risk defense line set up by the bank with collateral is bound to undergo a severe test.The root of all this is that domestic commercial banks' loans to real estate companies have grown rapidly in recent years, and the proportion of the total loans is also rising rapidly.

As far as the current situation is concerned, the mainstream of real estate loans is land mortgage loans.The rapid decline in land prices will inevitably lead to a decline in the value of land collateral.This not only fully exposes the bank credit risk, but also infinitely magnifies the bank credit risk.For example, when a piece of land is appraised at a high level, its market value is 1 million yuan, and the bank risk is priced at 6o. In this way, a real estate developer can obtain a loan of 6 yuan from the bank.But when the price of land fell by 5o, the mortgage value of this land was only 3 yuan, and the risk of bank credit was fully exposed at this time.

Recently, someone said that if the central government severely rectifies the real estate market, housing prices will inevitably fall. Once the risks in the real estate market are released, the first to die is the banks, not the real estate companies.This sentence contains the following layers of meaning.One is that only with the support of bank credit can real estate develop and prosper.Banks must not reduce their support for real estate, because real estate and banks have long been tied together, and any withdrawal of bank support will hurt the banks themselves first.

Second, despite the serious bubbles in the domestic real estate market, banks' support for the real estate industry cannot be reduced, otherwise the decline in house prices will definitely cause a bank crisis first, and the banking crisis will lead to a financial crisis and an economic crisis.