At the same time, behind the pile-up development of real estate trust by trust companies is a series of potential risks, which has attracted the attention of the regulatory authorities. In the second half of the year, a series of policies have been issued to curb the excessive growth of real estate trust, and real estate trust has been cold.
According to last months data, the scale of real estate trust fund-raising dropped sharply to 40 billion yuan in August, a drop of nearly 40% compared with the previous years lowest level (38 billion yuan in February). Under the regulatory norms, real estate trust has been effectively curbed. In this regard, Shuai Guorang, a researcher of usufruct trust, told the reporters of Securities Daily, From the point of view of current supervision, the real estate trust business is mainly balance control, and has not completely terminated the real estate trust business. It is expected that the real estate trust will maintain a certain proportion, but the proportion will decline.
Real Estate Trust
It dropped by nearly 40%.
In the collective trust market, the products and scale established last month have declined in varying degrees. According to monthly data of usufruct trust, in August, 56 trust companies set up 1608 collective trust products, a decrease of 4.35% compared with the previous year; the scale of collective trust products was 137.071 billion yuan, a decrease of 11.29%.
From the perspective of investment field, the scale of real estate trust collection is obviously declining under the influence of supervision, and the scale of financial trust and business enterprise trust is growing rapidly. Specifically, in August, the fund-raising scale of financial trust was 43.223 billion yuan, an increase of 30.61% annually compared with that of the previous month; the fund-raising scale of industrial and commercial trust was 10.596 billion yuan, an increase of 30.61% annually; the fund-raising scale of basic industry trust was 37.331 billion yuan, a decrease of 344% annually; and the establishment scale of real estate trust declined substantially in August. A total of 4,026.8 billion yuan was raised, a decline of 37.83%.
It can be seen that various regulatory measures have played a significant role in the regulation of real estate trust, and the financing of Housing enterprises will be further constrained. In this regard, there are also industry researchers said that the real estate trust regulatory policy overweight may cause prudence in other institutions and tighten financing channels. Since this year, the attention and gradual tightening of the real estate trust policy may not be confined to the trust industry. The whole years real estate industry policyhousing does not speculatehas not changed, and there are certain constraints on the investment and financing of the real estate industry.
Violations of Real Estate Business
To be the focus of punishment this year
While controlling the scale, the trust supervision department is also further guarding against the real estate trust risk, and strictly punishing the related violations.
According to the statistics of the Journal of Securities, at least three trust companies have been supervised to call names for violations of real estate business since this year. The reasons are imprudence in developing real estate trust business, illegal development of real estate trust business, illegal issuance of real estate self-financing loans and illegal issuance of real estate loans by trust funds.
For penalized trust companies, the most direct negative impact is the limited development of trust business. According to the Puyi Standard, trust companies subject to administrative penalties will be limited when they are trusted to manage social security funds, insurance funds, enterprise annuities, trustees for specific purposes and start trusted overseas financial services, and may also be affected when applying for new business types in the future. When a trust company intends to set up new subsidiaries of funds and other subjects, it may be unable to set up relevant institutions because of administrative penalties, which will affect the business development layout of the trust company.
Facing the increasingly stringent regulatory environment, Yuan Jiwei, a researcher with the trust, told the Journal of Securities, From the perspective of recent regulatory policies, it is more restrictive to the financing side of housing enterprises, and it is also better to allocate credit resources to the real economy and emerging industries. In the short run, the real estate trust supervision will be under pressure and the supervision requirements will be stricter than before. It is necessary for the trust industry to speed up the return to its original source, better serve the real economy, support the development of capital market and realize the innovation and transformation development on the basis of ensuring the compliance of the real estate trust business.
Source: Liable Editor of Securities Daily: Yang Qian_NF4425