The hottest national social security fund invested

2022-09-22
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The national social security fund invested 10.5 billion in the construction of affordable housing in three places

the national social security fund invested 10.5 billion in the construction of affordable housing in three places

China Construction machinery information

Guide: on July 12, the National Social Security Fund issued a 4.5 billion yuan loan to a public rental housing project in Chongqing in the form of trust loan, which is the third loan issued by the fund to domestic public rental housing. 15billion trust investment at noon on July 12, Dai Xianglong, chairman of the national social security fund, was presenting Chongqing tea garden new

on July 12, the National Social Security Fund issued a 4.5 billion yuan loan to a public rental housing project in Chongqing in the form of trust loan, which is the third loan issued by the fund to domestic public rental housing

At the noon of July 12, Dai Xianglong, chairman of the national social security fund, touched the mayor of Chongqing huangqifan with a glass of wine at the signing ceremony of the 4.5 billion yuan trust loan for the public rental housing project in Chayuan new area of Chongqing, raised his neck and drank half a glass of red wine

Dai Xianglong said in his speech before the signing ceremony that by the end of June this year, the total amount of the national social security fund had reached 900billion yuan. At present, 45% of the funds of the national social security fund are used for fixed asset investment and the purchase of treasury bills; 34% of the funds are invested in domestic and foreign stock markets, and 20% are invested in listed companies and private equity funds

Dai Xianglong said that the investment income of the national social security fund has increased by an average of 9% in the past 10 years. This year, the fund decided to spend 5% of it on urban infrastructure investment and affordable housing construction through trust loans. However, in April this year, during the operation of the unit, the total amount of funds invested by the fund in the field of public rental housing was 15billion yuan

according to the investigation, on February 26 this year, the National Social Security Fund issued a total of 3 billion yuan of trust loans to Nanjing affordable housing construction and Development Co., Ltd. for four affordable housing projects, with a construction area of 9.4 million square meters; On June 18 this year, the National Social Security Fund Council provided a 3 billion yuan trust loan in the form of trust products for Tianjin, where Dai Xianglong once served as mayor, for the construction of public rental housing projects in the city

so far, the national social security fund has spent 10.5 billion yuan of the 15billion yuan fund it plans to invest in the field of public rental housing this year, and Chongqing has obtained a single maximum loan in the field of public rental housing this year

non bank funds enter

"this year, the social security fund invested 15billion yuan of trust loans in the national affordable housing sector, which is an important signal of the domestic affordable housing financing system." Huang Qifan said at the signing ceremony that this first represents the beginning of non bank funds to enter the field of public rental housing construction

previously, public rental housing in Chongqing relied more on bank loans to solve capital problems, in addition to obtaining direct allocation support from the central government and direct injection from the city's finance

since the end of 2009, Chongqing has proposed to build 40million square meters of public rental housing within three years. This investment and construction plan is not only the largest in the country in terms of the total planned investment and construction, but also the largest public rental housing project that has been launched and the total number of public rental housing under construction in the country. However, the plan requires a total of 110billion yuan, which is equivalent to the city's fiscal revenue in 2009 and 2010

like other cities in China, Chongqing is facing the problem of how to solve the capital problem of huge investment in public rental housing

the city's solution is that the government will invest 30billion yuan. First, it will strive for a subsidy of 10billion yuan from the central government. Second, the local government will withdraw 5% of the land income for public rental housing construction (last year, the city's land transfer income was 90billion yuan, and the income after deducting costs was 40billion to 50billion yuan). Third, the local financial budget is 15billion yuan, and the local government bond is 5billion yuan

however, the remaining 80billion yuan will have to be solved through social financing channels that will bring Passover changes to China's EPS industry, such as bank loans, insurance company financing, social security fund financing, central enterprise financing, etc

until the signing of this contract, Chongqing actively promoted the public rental housing plan for one and a half years. In addition to bank loans, several other financing paths were "only listening to the sound, not seeing customers"

Huang Qifan said that this time the National Social Security Fund issued trust loans to Chongqing public rental housing projects, which is of "fundamental, pilot and landmark" significance. He believed that in the next few months, various funds and funds would follow the social security fund and invest in Chongqing public rental housing projects

in the background information provided to the media, Chongqing said: "there is a saying in the investment community that 'investment follows social security'. 5. According to whether the sample has prefabricated cracks, it can be divided into: routine fatigue experiment and fatigue crack expansion experiment to illustrate the guidance of the investment direction of social security fund to the investment community."

however, it remains to be seen whether Chongqing's public rental housing will really win the injection of various funds in the future

"zero risk" concept

Dai Xianglong raised his neck and drank the glass of red wine in Chongqing

but he didn't drink only wine. At present, China's plastic machinery industry is changing in the global market pattern, and it is still unknown whether the insurance fund will be drunk on Chongqing public rental housing projects in the future. However, Chongqing stressed that the city's public rental housing projects are "zero risk". This is the first time the city has publicly unveiled the concept

a press release provided by the city to the media on July 12 said: "Chongqing adopts the '1+3' model to raise funds, which can ensure the dynamic balance of construction funds."

the so-called "1" refers to the financial contribution of 30billion yuan, "3" refers to the financing of about 80billion yuan in addition to finance. There are three sources of financing Repayment: selling 4million square meters of commercial housing supporting public rental housing, which can recover about 40billion yuan of funds; After five years of lease, about one-third of the limited property rights of public rental houses are sold, and about 40billion yuan can be recovered; The annual rent of public rental housing can balance the loan principal and interest

Huang Qifan also said at the signing ceremony that public rental housing in the city would not become non-performing assets. There are two reasons. First, the cost of public rental housing in Chongqing is "naked cost" because there is no land cost, no construction tax cost, and zero profit operation of developers and builders

secondly, financial institutions invest in public rental housing in Chongqing, "it is not only worth 10000 yuan (real estate) to spend 20000 yuan or 30000 yuan to buy at a high level, and there is no risk of falling down. Even if China's house prices fall by 50%, Chongqing's public rental housing prices cannot fall down," Huang Qifan said. "From this perspective, Chongqing's public rental housing is a 'gold standard' asset."

however, the national social security fund still added a lock on risk prevention and control, and added the requirements for the second repayment source of the trust loan of Chongqing public rental housing project. The two parties agreed that the China Development Bank would provide guarantee for the social security fund trust loan. When the social security fund trust loan expires, the China Development Bank would repay it by issuing a syndicated loan

Chongqing Urban Construction Investment Group Co., Ltd., the single parent company of Chongqing urban investment public rental housing construction Co., Ltd. (with a registered capital of 1billion yuan), which obtained a trust loan of 4.5 billion yuan this time, can provide guarantee to the syndicated loan issued by the National Development Bank

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