【新唐人2014年09月06日訊】日前，中共監管層傳達出房地產行業最新政策動向，將允許已上市房地產企業，在銀行間市場發行中期票據。專家認為，這是中共在採取不斷印製鈔票，以及推行限購，放寬第二套房貸款等各種政策失靈的情況下，採取的又一刺激措施。但這一行為，不但會讓等待房價下降後購房的民眾失望，也無法長期持續，挽回房地產崩盤結局，卻會給中共政權埋下了隱患。
網易財經頻道9月4號報導，有消息稱，國內上市房企獲准在銀行間市場發行中期票據。交易商協會債券市場專業委員會也證實，他們在上週五召開會議，審議了上市房企在銀行間市場發行中期票據一事。
「中期票據」是指期限通常在5-10年之間的票據，發行額度一般不少於30億元，不僅註冊方便，發行程序簡易，而且成本也低。
大陸一名房地產董事長表示，上市房企開閘中期票據，不僅讓上市房企資金鏈徹底宣告擺脫困境；使房價大幅下跌的可能性被軟著陸取代；同時有利於上市房地產企業的股票估值。
旅美經濟評論家馬傑森：「其實，是中共給這些企業開出來一個融資渠道。是有保證中國房地產不會崩盤的想法在裡頭。如果它沒錢的話，他就會狂拋，這也是飲鳩止渴的一個方式。如果銷售一直提不上來，它借的這些錢還是要還的，而且還要還利息。如果將來房地產越來越不看好，中期債卷的利息會可能會越來越高。如果中國房地產大環境不改，這個舉措只是借一個燃眉之急。」
據大陸媒體報導，中國大陸的房地產企業正面臨著極其嚴峻的資金危機，超過四成的房產企業，負債率超過了百分之百，部份公司的淨負債率激增至300%以上。尤其上市房企的真實負債率水平全面高漲，已經接近歷史峰值。
北京大學光華管理學院博士生導師王建國，曾經向《新唐人》表示，其實最害怕房價掉下去的是政府。
前年8月，《人民網》引述專家的話說，高房價裡有高達70%的稅費，流進了政府的「錢袋」。之後在12月，財政部公布了11月份全國財政收入數據。顯示和前一年同期比，房地產營業稅增幅近60%。
去年10月底，中共國務院發展研究中心主任李偉說，中國房地產已經出現泡沫破裂現象。不過今年一月份，央行馬上投放現金1.79萬億元，創下近四年來最高水平，但房價不但沒有上去，當月人民幣存款卻減少了接近1萬億。專家認為，央行一放水，有錢人趕快賣掉房子逃往其它國家。
中國金融智庫研究員鞏勝利：「房地產是最大的一個產業，一掉下來對中國的經濟影響非常大。中國地方政府很多靠土地在生存，沒有房地產中國地方政府怎麼辦？所以它現在採取了一種新的刺激方法，發行票據也就是貨幣的再供應，也是一種短期的行為，不可能長期。」
目前在全國二、三線城市空城、鬼城隨處可見。最近一位房管局長在新華網刊登文章說，現在房子多得嚇人。僅根據國家統計局的數字到去年年底，中國新區規劃出來的新城，就能住下34億人口，加上原來7.3億的城鎮人口，一共高達約40億人。相當於中國的城市能裝下超過全世界一半的人口！
大陸經濟評論家牛刀：「它的購買力就那麼多，購買力一旦耗完它照樣崩。崩盤是遲早的事情。這樣一來埋下的這種隱患，造成的這種破壞性它就沒有辦法，政權要出問題。共產黨現在搞不下去了。搞不下去了，你就讓別人搞嘛。但是它又不會讓，你殺我、我殺你，整個社會都動盪了。」
目前，地產商因為資金鏈斷裂而跑路，跳樓的事件時有發生，而業主因此維權的事件也風起雲湧。
採訪編輯/劉惠 後制/李勇
Who is the Loser in Real Estate’s Medium-Term Notes?
Sources say that China regulators approved a
new real estate policy, allowing those that qualify, to sell
medium-term notes (MTN) in the inter-bank bond market.
Experts say that this is yet another unworkable measure by the regime
as when it consistently printed bank notes,
carryied out purchasing restrictions and relaxed mortgage loan
restrictions which didn’t work.
The new measures have not only disappointed buyers
who are waiting for the housing prices to fall, but they also cannot
hold out for too long to prevent the housing bubble burst.
It leaves potential problems for the CCP.
Chinese internet company NetEase cited sources that
listed property companies are allowed to sell MTN’s in the
inter-bank market.
National Association of Financial Market Institutional
Investors also confirmed that:
they held a meeting last Friday that discussed the issue of MTN.
MTN is a debt note that usually matures in 5-10 years.
The minimum amount of issue is 3 billion yuan.
MNT’s are easy to register and simple to issue, and the cost is low.
A Chairman from a Chinese-based property firm says that
listed properties for sale with MTN’s will help the property fund
chain to get rid of a difficult situation completely,
also the possibility of a sharp price fall will be replaced by
a soft landing.
It is also good for listed property firms to evaluate its stocks.
Jason Ma, US-based economic commentator: “Actually,
the Chinese Communist Party (CCP) has opened up a channel
for these companies to raise money.
The CCP intends to ensure that real estate will not collapse.
If there is no money, they will sell bonds.
This is a way to help in an emergency situation.
If the sales haven’t improved, the borrowing still
needs to be repaid plus interests rate.
If the real estate marketing gets worse in the future,
the interests rate of the MTN’s will increase more and more.
If the property environment doesn’t change, the new measures
can only solve the problems in an urgent situation."
According to Chinese media, property sectors in China
are facing a serious financial crisis.
Over 40% of property sectors’ debt ratio has exceeded 100%.
Some companies’ Net Gearing Ratio increased to over 300%.
Especially real Gearing Ratio of listed property firms are all increased.
It almost reaches an historic high.
doctoral tutor of The Guanghua School of
Management, Peking University had spoken to NTD Television.
He said that it was the government that worries most about
the housing prices going down.
In Aug. 2012, people.cn cited experts that 70% tax from high
price property has been taken by government.
In Dec. 2012, the Ministry of Finance announced November’s
data of national fiscal revenue.
It shows that tax on property sales has increased
nearly 60% year-on-year.
Last October, Li Wei, director of Development Research
Centre of the State Council said that the housing bubble has
burst in someway.
In January this year, the Central Bank injected 1.79 trillion yuan,
which is the highest level over the past four years.
However, the housing price still hasn’t risen.
The bank deposits have reduced by
nearly 1 trillion yuan in the same month.
Experts observed that once the Central Bank injected money,
rich people sold their houses quickly then escaped abroad.
Gong Shengli, researcher of Chinese Financial Think Tank:
“Real estate is one of the biggest sectors, once it falls, it would
greatly impact on the China’s economy.
Many local governments rely on land,[revenue]
What will they do without the property sectors?
So the regime launched new stimulus measures;-to issue bonds,
which means issue currency again.
It is a short-term action, but cannot last long."
In China’s second and third tier cities, ghost towns are everywhere.
Recently, a director of property management bureau has
published an article in Xinhua website.
He said that the quantity of houses in newly
designed areas is scary.
According to national statistics, at the end of last year, projects of
new cities in new areas can take a 3.4 billion population.
To add up an existed 7.3 billion populations in urban areas.
It reaches 4 billion populations in total.It means China’s cities
can take over 50% of the global population.
Niu Dao, China-based economic commentator: “That’s all of
its purchasing ability.
Once the purchasing ability is consumed out, it will collapse.
It happens sooner or later.
The CCP has difficulty sustaining itself.
If it cannot carry on, it should hand over to other people.
But it won’t do so.If you kill me I will kill you,
The entire society is at unrest."
Now property developers are escaping because
of fund chains being broken.
Tragedies of jumping off the buildings often happened,
incidents of owners of properties going for appeal is taking place
one after another.
Interview & Edit/LiuHui Post-Production/LiYong