Real estate policy in 2007

I'll give you some data compiled by myself in 2007 for your reference, which may be incomplete. Some of them are charts. After copying, the format has changed, but it should be clearer. If you are satisfied, you will get extra points, hehe!

List of real estate policies in 2007

Time department summary

On February 5, 2007, State Taxation Administration of The People's Republic of China promulgated the Decision on Amending the Provisional Regulations on Urban Land Use Tax in People's Republic of China (PRC), adjusting the scope and standards of taxation, imposing strict taxation and strictly controlling tax reduction and exemption.

On February 28th, 2007, the Ministry of Finance of People's Republic of China (PRC) and the State Taxation Administration of The People's Republic of China issued the Notice on Personal Income Tax Related to Units Selling Houses to Employees at Low Prices, which pointed out that when units sell houses to employees at a price lower than the purchase or construction cost, the difference is the taxable income of personal income tax, and personal income tax should be paid according to the items of "income from wages and salaries".

On March 16, 2007, the Fifth Session of the Tenth National People's Congress passed the Property Law, which clarified the equal protection of public and private property, the ownership of garage parking spaces and the automatic renewal of the right to use residential construction land when it expires.

On March 22, 2007, the Ministry of Commerce issued the guiding opinions on the national absorption of foreign capital in 2007, strictly restricting foreign investment in real estate.

In May 2007, the Ministry of Land and Resources will focus on rectification and do a good job in six aspects.

In June, 2007, six departments of the State Council issued Opinions on Regulating the Access and Management of Foreign Investment in the Real Estate Market.

On June 8, 2007, State Taxation Administration of The People's Republic of China, People's Republic of China (PRC) issued the Reply on Accepting Deed Tax for Renovation of Houses in taxable value. The taxable value of the house sale is the total price of the house sale contract, and the decoration expenses should be included in the decoration house sale.

On August 1 2007, the State Council adopted "Several Opinions of the State Council on Solving the Housing Difficulties of Urban Low-income Families", aiming at further establishing and perfecting the urban low-rent housing system and perfecting and standardizing the affordable housing system.

In August 2007, the Ministry of Land and Resources strengthened the disposal of idle land, and the idle fee was levied at 20% of the land price.

On September 1 2007, the State Council's "the State Council's Decision on Amending the Regulations on Property Management" (hereinafter referred to as the "Decision") was promulgated.

On September 27th, 2007, the Central Bank and the China Banking Regulatory Commission issued the Notice on Strengthening the Credit Management of Commercial Real Estate, which raised the down payment ratio and interest rate level of the second (inclusive) or above housing loans, and prohibited the issuance of housing mortgage loans whose loan amount fluctuated with the assessed value of real estate and was not clearly used.

On June 9, 2007, 10, the Ministry of Land and Resources issued the latest version of the Provisions on Transferring the Right to Use State-owned Construction Land by Bidding, Auction and Listing, which clearly stipulated that industrial land must be transferred by public bidding, auction and listing. In addition, the construction land use right certificate can only be obtained after the land payment is paid in full, and it is not allowed to be distributed in installments in proportion.

June 28, 2007 10 Land management departments of the Ministry of Land and Resources all over the country should intensify the clearing of idle land, focusing on investigating and dealing with developers who hoard land. To this end, the land management department has formulated detailed measures.

In June 2007, the National Development and Reform Commission and the Ministry of Commerce promulgated the Catalogue of Industries for Foreign Investment (revised in 2007).

List of financial policies in 2007

Time department content

On June 5438+1October 65438+May 2007, the People's Bank of China raised the RMB deposit reserve ratio of deposit-taking financial institutions by 0.5 percentage points.

On February 25th, 2007, the People's Bank of China raised the RMB deposit reserve ratio of deposit-taking financial institutions by 0.5 percentage points.

On March 8, 2007, the People's Bank of China raised the benchmark interest rate of RMB deposits and loans of financial institutions. The benchmark interest rate for one-year deposits of financial institutions was raised by 0.27 percentage points, from the current 2.52% to 2.79%; The benchmark interest rate for one-year loans was raised by 0.27 percentage points from the current 6. 12% to 6.39%.

On March 8, 2007 18, the interest rates of individual housing provident fund loans for less than five years (including five years) and more than five years were raised by 0. 18 percentage points.

On April 6, 2007, the People's Bank of China and the People's Bank of China raised the deposit reserve ratio, and the deposit reserve ratio of commercial banks will be raised by 0.5%, reaching 10.5%.

On May 5, 2007, the People's Bank of China and the People's Bank of China raised the deposit reserve ratio to 1 1%.

On June 5, 2007, the People's Bank of China raised the RMB deposit reserve ratio of deposit-taking financial institutions by 0.5 percentage point, and ordinary deposit-taking financial institutions will implement the deposit reserve ratio standard of 1 1.5%.

On July 2nd, 2007, the People's Bank of China raised the benchmark interest rate of RMB deposits and loans of financial institutions. The benchmark interest rate for one-year deposits of financial institutions was raised by 0.27 percentage points, from the current 3.06% to 3.33%; The benchmark interest rate for one-year loans was raised by 0.27 percentage points, from the current 6.57% to 6.84%; The interest rate of individual housing provident fund loans was raised by 0.09 percentage points accordingly.

On August 6, 2007, the interest income of savings deposits after tax rate adjustment in State Taxation Administration of The People's Republic of China, People's Republic of China (PRC) was calculated according to the time period before and after policy adjustment, and interest tax was levied according to different tax rates.

On August 5th, 2007, the State Council lowered the applicable tax rate of personal income tax on savings deposit interest from the current 20% to 5%.

On August 5, 2007, the People's Bank of China raised the RMB deposit reserve ratio of deposit-taking financial institutions by 0.5 percentage points, and ordinary deposit-taking financial institutions will implement the deposit reserve ratio standard of 12%.

On August 22, 2007, the People's Bank of China raised the benchmark interest rate of RMB deposits and loans of financial institutions, and the benchmark interest rate of one-year deposits of financial institutions was raised by 0.27 percentage points, from the current 3.33% to 3.60%. The benchmark interest rate for one-year loans will be raised by 0. 18 percentage points, from the current 6.84% to 7.02%; The deposit interest rate of individual housing provident fund carried forward from the previous year was adjusted from the current 2.34% to 2.61%; Increase the interest rate of individual housing provident fund loans, and increase the interest rate of individual housing provident fund loans for less than five years (including five years) and more than five years by 0.09 percentage points respectively. For less than five years (including five years), it is adjusted from 4.50% to 4.59%, and for more than five years, it is adjusted from 4.95% to 5.04%.

On September 65438+May, 2007, the People's Bank of China raised the benchmark interest rate of RMB deposits and loans of financial institutions. The benchmark interest rate for one-year deposits of financial institutions was raised by 0.27 percentage points, from the current 3.60% to 3.87%; The benchmark interest rate for one-year loans was raised by 0.27 percentage points, from the current 7.02% to 7.29%; The loan interest rate of individual housing provident fund will be raised by 0. 18 percentage points accordingly.

On September 25th, 2007, the People's Bank of China raised the RMB deposit reserve ratio of deposit-taking financial institutions by 0.5 percentage points, and the standard will be raised to 12.5%.

On June 25th, 2007, the People's Bank of China raised the RMB deposit reserve ratio of deposit-taking financial institutions by 0.5 percentage points. Therefore, ordinary deposit financial institutions will implement the deposit reserve ratio standard of 13%.

The People's Bank of China issued the Monetary Policy Implementation Report of China in the Third Quarter of 2007 on October 9, 2007, saying that it is necessary to further strengthen and improve the regulation of the real estate market.

On June 26th, 2007, the People's Bank of China raised the RMB deposit reserve ratio of deposit-taking financial institutions by 0.5 percentage points. This is the ninth increase in the deposit reserve ratio this year. After this increase, the RMB deposit reserve ratio of deposit-taking financial institutions will reach 13.5%.

On June 5438+February1kloc-0/day, 2007, the central bank and the China Banking Regulatory Commission issued the Supplementary Notice on Strengthening the Management of Real Estate Credit.

On June 5438+February 1 1, 2007, the central bank of the People's Bank of China decided to "stop remortgage", resolutely cancel remortgage and mortgage loans, and may not issue remortgage housing loans without specific purposes and real transactions.

On June 5438+February 2, 2007, the People's Bank of China adjusted the benchmark interest rate of RMB deposits and loans of financial institutions, and the benchmark interest rate of one-year deposits was raised from the current 3.87% to 4. 14%, an increase of 0.27 percentage points; The benchmark interest rate for one-year loans is raised from the current 7.29% to 7.47%, with an increase rate of 0. 18 percentage points; Adjust the benchmark interest rate of RMB deposits and loans of financial institutions from the current 0.8 1% to 0.72%, down by 0.09 percentage points.

Enumeration and analysis of important policies

I. Macro-control policies

In order to promote the healthy development of China's real estate market, curbing excessive housing prices is still the primary goal of the government to regulate the property market in 2007. In 2007, due to the excess market liquidity and profit-seeking, a large amount of funds entered the stock market and the property market, which not only pushed up the stock index, but also boosted the price increase. Therefore, cracking down on property market speculation is still the main theme of macro-policy of real estate control in 2007. What attracts people's attention is that in 2007, the idea of national macro-control changed from "main adjustment market" to "main adjustment guarantee" and began to return to the housing reform policy of 1998. Coupled with the acceleration of the real transformation of property tax, all this will undoubtedly have a far-reaching impact on the future real estate market.

1, the State Council "No.24 Document" was issued, and the regulation of the property market changed from "main tone market" to "main tone guarantee".

On August 7th, the State Council issued "Several Opinions on Solving the Housing Difficulties of Urban Low-income Families" (No.24 document). The "Opinions" clearly require that the establishment and improvement of a policy system focusing on the low-rent housing system and solving the housing difficulties of urban low-income families through multiple channels be accelerated. Affected by this, the residential structure will undergo major changes: low-rent housing, affordable housing, medium and low-priced and small and medium-sized ordinary commodities will become the mainstream of supply, and the proportion of large-sized houses, villas and high-grade houses will drop sharply. The release of Circular 24 is a weather vane for China's property market regulation to shift from "main tone market" to "main tone guarantee".

2. Raise the down payment and interest rate of the "second set" housing loan, and crack down on speculation in the property market.

On September 27th, the Central Bank and the China Banking Regulatory Commission jointly issued the Notice on Strengthening the Credit Management of Commercial Real Estate. According to the notice, if you have used the loan to purchase a house and apply for the purchase of a second house or above, the down payment ratio of the loan shall not be less than 40%, and the loan interest rate shall not be less than 1. 1 times of the benchmark interest rate of the same grade in the same period announced by the People's Bank of China. As soon as this policy came out, the market had a strong wait-and-see atmosphere, and first-tier cities generally showed a price without a market.

3. Ministry of Land and Resources "Order No.39" blocked the loophole from the source.

65438 10/9, the Ministry of Land and Resources officially issued the Provisions on Transferring the Right to Use State-owned Construction Land by Bidding, Auction and Listing (Order No.39). The core content of Order 39 is that the transferee can only get the land use right certificate after paying all the land transfer fees. If the land transfer fee is not paid in full as agreed in the contract, the construction land use right certificate shall not be issued in installments according to the proportion of the paid transfer fee. This means that developers can no longer use a small amount of start-up funds to incite large loans from banks, thus curbing the overheated real estate market.

4. Catalogue of industries for foreign investment (revised in 2007)

The Catalogue of Foreign Investment Industries (revised in 2007) jointly issued by the National Development and Reform Commission and the Ministry of Commerce in June+10, 5438 expanded the scope of restrictions on foreign investment in the real estate industry. China will continue to restrict foreign investment in the construction and operation of high-end hotels, villas, high-end office buildings and international convention and exhibition centers, and foreign investment in land development must be joint ventures and cooperation with domestic enterprises; And new restrictions on foreign investment in real estate secondary market transactions and real estate agents or brokerage companies. In addition, the current Catalogue (revised in 2004) deleted "development and construction of ordinary residential land" from the encouraged investment category. The Catalogue for the Guidance of Foreign Investment Industries (revised in 2007) inhibits the inflow of foreign capital into real estate, reduces the inflow of funds in the real estate market, inhibits real estate investment, and expels international investment hot money chasing RMB assets.

Second, the land tax policy:

1, two lines of revenue and expenditure management of land leasing.

From June 65438+1 October1,the revenue and expenditure of land transfer were included in the budget management of local funds, and two lines of revenue and expenditure were implemented, so that the land transfer fee was no longer the "small treasury" of local governments.

2. Decision of the State Council on Amending the Provisional Regulations on Urban Land Use Tax in People's Republic of China (PRC).

From 65438+ 10/month 1, the annual tax per square meter of urban land use tax has been tripled on the basis of the original provisions, and foreign-invested enterprises and foreign enterprises have also been included in the taxation scope of urban land use tax. Urban land use tax belongs to land retention tax, which has a very limited increase in the cost of real estate development, and the housing cost per square meter only increases by about 20 yuan.

3. Notice on issues related to land value-added tax liquidation management of real estate development enterprises

On October 25th, 65438/kloc-0, State Taxation Administration of The People's Republic of China issued the Notice on Issues Concerning Land Value-added Tax Liquidation Management of Real Estate Development Enterprises, which started the land value-added tax liquidation. The document defines the time and space "bottom line" of land value-added tax liquidation, which on the one hand makes the tax authorities more operational when collecting this tax, on the other hand, it also regulates the tax obligations of real estate enterprises, which is conducive to fair tax burden of real estate enterprises. The most lethal thing for developers is that the progressive tax rate standard is clearly defined in the Notice.

4. Provisions on Transferring the Right to Use State-owned Construction Land by Bidding, Auction and Listing (Decree No.39)

On October 9th, 65438/kloc-0, the Ministry of Land and Resources issued "Provisions on Transferring the Right to Use State-owned Construction Land by Bidding, Auction and Listing" (Order No.39), requiring the transferee to pay the land transfer fee of all plots before receiving the certificate of the right to use state-owned construction land from June1/kloc-0. This policy not only standardized the land acquisition procedure, but also greatly cracked down on some developers' deliberate hoarding of land.

Third, financial policy.

1, the central bank raised interest rates continuously.

This year, the central bank raised interest rates five times. From March 18 to February 1, the central bank raised the interest rate of RMB deposits and loans of commercial banks six times, and the benchmark interest rate of one-year deposits was raised from 2.79% to 4. 14%, by 1.35 percentage points. The benchmark interest rate for one-year loans was raised from the current 6.39% to 7.47%, by 1.08 percentage points. It is not only the property buyers who are affected by the interest rate hike, but also a large number of real estate development enterprises that have not got rid of their dependence on banks. In the credit crunch environment, they are facing increasing repayment pressure and capital shortage.

2. The central bank continuously raised the deposit reserve ratio.

From 65438+1October 15, the central bank raised the deposit reserve ratio by 0.5 percentage point for 9 times, and the deposit reserve ratio reached 13.5% as of1October 25th. The government continues to implement tight monetary policy to curb investment demand.

3. The implementation of the new mortgage policy

The New Deal requires that those who have used loans to buy a house and applied for the purchase of a second house or above should have a down payment ratio of not less than 40% and a loan interest rate of not less than 1. 1 times the benchmark interest rate. In addition, commercial banks are required to strictly regulate the management of real estate development loans, and loans are not allowed for projects with a capital ratio of less than 35% or without relevant documents, and loans are not allowed for enterprises hoarding land and houses; Strictly regulate the management of land reserve loans, and may not issue loans specifically for paying land transfer fees to housing enterprises. The new mortgage policy is intended to increase the cost of investors, curb the growing real estate bubble, reduce the proportion of investment in housing, curb the excessive rise of real estate prices, and ensure the fundamental interests of ordinary people.

1.4 summary of real estate industry:

① Performance of real estate industry in 2007 and targeted measures.

As a pillar industry in China, the real estate industry plays an important role in the heart of human beings, and has always provided a strong driving force for the economic development of China. To achieve high-speed and high-quality economic growth, enhance national competitiveness and social harmony and stability, how to ensure the sustained, stable and efficient operation of this heart is the key.

In 2007, driven by the "hot pattern" of the real estate industry, this heart also experienced many diseases as follows. One of the symptoms: blocked blood flow. Just like the blood circulation of human body, social reproduction can only be completed if capital flows back and forth in the value chain. When a large amount of capital stops its normal flow in the value chain in the form of hoarding land or vacant finished houses, it is as dangerous as blood clots in blood vessels blocking blood circulation, which will bring disastrous consequences to the development of the real estate industry-industrial bubbles and speculative activities will replace constructive activities and eventually lead to the hollowing out of the industry. Symptom 2: Developmental imbalance. A healthy heart should have a complete and reasonable organizational structure to meet the whole body's demand for blood. When the market deviates from the public's basic housing demand and caters to the investment demand, it leads to the structural imbalance of real estate products and the abnormal development of the industry. Like a deformed heart, the faster it grows, the greater the hidden danger. Symptom 3: lack of pulse. As a non-renewable resource, if the contribution rate of land per unit area to economic growth does not reach a certain level in the process of development, construction and use, just as it is difficult for the heart to provide enough blood for the body every time it beats. The premise of sustainable economic development is the sustainable utilization of resources, and the promotion of land development to economic development is limited to one-time income such as land transfer fees, which is far from enough for the government. The government hopes that the development of land can optimize the local economic structure, bring more employment opportunities and create sustained fiscal revenue.

In view of these problems, a series of regulatory policies in 2007 can be interpreted as a process of "treating the right medicine":

First, in view of the phenomenon that developers hoard land and investors buy houses vacant, macro-control has prescribed three prescriptions. First of all, tighten the roots of land, control the supply of land, strictly implement the system of "bidding, auctioning and hanging" for land transfer, increase the cost of land acquisition for developers, and raise the entry threshold, thus forming a situation of "no land to hoard, but it is difficult to hoard at a high price". Secondly, strengthen the management of land held by developers. If the development has not started for one year beyond the date agreed in the contract, the idle land fee shall be levied from a high level according to law, and it shall be ordered to start and complete within a time limit; If the development has not started for two years, the government will recover the land use right free of charge. It has formed a situation that "land is difficult to store", forcing a large number of idle land to re-enter the value chain. Third, tighten monetary policy, reduce the scale of loans for real estate projects in an all-round way, raise interest rates continuously in the short term, and increase the cost of holding idle land and houses. Form a situation of "no money to hoard land, high interest rates are difficult to hoard".

Secondly, in view of the fact that the development trend of products in the real estate market deviates from the basic living of the general public, from the three major policies of "limited proportion", "limited area" and "limited price" to the key indicators of "70%" and "90 square meters", aiming at restraining large-sized products that meet the investment demand and encouraging the development of small-sized products that meet the living demand, the State Council Document No.24 was issued. Forcing the market development track to return to the current situation in line with China's national conditions of large population, small land, lack of resources, excessive environmental load and low per capita income level.

Third, in view of the long-term stagnation of the contribution rate of land per unit area to economic growth, the government decision-making level has also made forward-looking considerations. Stop the approval of land for villa projects and restrict the development of low-density products such as multi-storey houses. In addition, encourage the development of commercial properties, give priority to meeting the demand for land for tourism, leisure and cultural and educational projects, strengthen the supervision of land use process, and ensure the optimal allocation of land resources.

The implementation of industrial control policies directly points to the crux of the above industries, which can be summarized as the following four points:

First, prevent the real estate economy from overheating and reduce the real estate economic bubble.

Second, protect the basic right of residence of low-and middle-income groups and maintain social stability and harmony.

Third, promote constructive investment and development and curb speculative land hoarding.

Fourth, improve the utilization efficiency of land resources and improve the comprehensive contribution rate of land development to economic development.