Chapter 468: Rectifying the Real Estate Market
"What difficulties are companies currently facing that urgently need the government's help to solve?" Qi Tongwei asked the person in charge beside him with concern while carefully inspecting the advanced production equipment in this drone factory in Luzhou City.
At this time, the factory owner Zhang Zhi responded with a worried look on his face: "Leader, the biggest difficulty right now is still insufficient funds!"
Hearing this, Qi Tongwei frowned slightly and asked, "Didn't you ask for a bank loan or investment?"
Professor Liu, a researcher at the side, couldn't help but interrupt. He complained bluntly, "Boss, why didn't you find someone? Banks can approve loans to real estate companies within three days, but our boss has been running around for three months and still hasn't been able to get a single cent."
"I have also tried to find investment, but I don't want foreign capital. Some domestic capital is flocking to the Internet, real estate, and entertainment industries, and is not interested in drones." Boss Zhang Zhiye couldn't help but complain.
After hearing these words, Qi Tongwei's face instantly became solemn and he frowned tightly.
Anyone with a discerning eye could see that at this moment, a ball of rage was already burning in his heart.
Lu Shuyue and Li Yue, who were standing behind him and accompanying him on the inspection, looked at each other and understood what he meant - from the change in Qi Tongwei's expression, they could guess that he must be angry.
The two secretly made up their minds that they must immediately start to rectify the banking system after returning to the unit and must find a way to improve the current unreasonable credit situation in order to effectively help high-tech enterprises with real development potential like the one in front of them to solve their urgent needs.
"Boss, how about I introduce you to an investor?" Qi Tongwei gave Zhang Zhi Gao Xiaoqin's phone number.
Qi Tongwei could see that this drone factory had very advanced technology, but was just troubled by funding issues. If the funding problem could be solved, it might become a benchmark company for global drones.
Although he is not a professional soldier, Qi Tongwei still sees unlimited possibilities in drones, and the factory not only produces drones, but also robots.
After inspecting the drone factory, Qi Tongwei also completed this round of inspection.
Through this round of research, Qi Tongwei discovered many problems, the most serious of which was real estate companies. He found that all regions regarded real estate as a pillar industry.
However, through investigation, it is found that there are already enough houses to live in in the country. The cold winter of the real estate economy will come sooner or later, and it will be too late to take action by then.
"Secretary Qi, through investigation, the debt ratio of the real estate industry has increased by 109% year-on-year. Hengda's debt alone is as high as one trillion yuan, and the net debt ratio of perpetual bonds is as high as 409%.
The top ten real estate companies in the market all have debts of over 100 billion yuan. Once the market fluctuates, these companies may go bankrupt one after another," said Wu Xiangfei, director of the Policy Research Office.
"According to your calculations, what will be the worst-case scenario if fluctuations occur?" Qi Tongwei asked solemnly.
Wu Xiangfei took a deep breath and said, "The worst-case scenario is that it will trigger a real estate financial crisis, with a large number of workers losing their jobs, countless families defaulting on their mortgages, a large number of unfinished buildings, and a mountain of bad debts at banks."
Qi Tongwei's eyes became increasingly stern, and he paced slowly, thinking about countermeasures.
"We must make plans in advance to limit the blind borrowing and expansion of real estate companies. Notify everyone and set up a special group to study countermeasures. At the same time, the Discipline Inspection Commission and the Audit Office will enter major banks in Handong Province to check loans." Qi Tongwei gave the order decisively.
"Yes, Secretary Qi." Wu Xiangfei quickly agreed.
Qi Tongwei planned to sound the alarm to major banks across the country by checking the loans of major banks in Handong. Of course, he also knew that he would offend many people this time.
There are many vested interests in real estate, and most of them are descendants of people in high positions.
Qi Tongwei is not afraid. Based on his understanding of his leader, he will definitely support him.
In the following days, the Policy Research Office began to study how to prevent real estate crises and how to solve current problems.
Qi Tongwei convened a meeting of the Standing Committee of the Provincial Party Committee and proposed support policies for high-tech industries.
On the other hand, Zhang Zhi contacted Gao Xiaoqin and obtained a huge amount of funds. With sufficient financial support, technologies such as drones flourished and new technologies were continuously introduced.
Half a month later, Qi Tongwei got the plan from the Policy Research Office, so he convened a meeting attended by municipal party committee secretaries, mayors, and presidents of major provincial banks.
At the meeting, Qi Tongwei took the lead in reporting the debt situation of major real estate companies.
"President Liu, I heard that you just approved an 800 billion yuan loan from Hengda last month. Come on, can you tell me why you approved it?" After the report, Qi Tongwei turned his gaze to Sun Shunde, the president of the Industrial and Commercial Bank of Handong Province.
"Secretary Qi, last year Hengda Group ranked 500th in the Fortune China 16 with a net profit of 242 billion yuan. Through calculations, we believe that they have the ability to repay the debts owed," Sun Shunde argued.
"Are you able to repay it?" Qi Tongwei snorted coldly.
"I think everyone here has witnessed the real estate bubble in countries and regions such as China and the United States. Don't tell me that our country is an exception.
At present, my country's housing stock is enough to accommodate three billion people. How many people are there in my country now? How is the population growth rate? "
After taking a sip of tea, Qi Tongwei said expressionlessly: "I don't believe you can't see the hidden crisis, but why are you indifferent?
The root cause of this phenomenon is that some people are unwilling to take responsibility and are only interested in pursuing the so-called political achievements brought about by GDP growth!"
At this point, he glanced at Li Dakang calmly, and then continued: "From this investigation report, it can be seen that the real estate crisis has already arrived and is about to break out.
If we fail to plan ahead and take countermeasures in advance, once the problem breaks out, the economic losses caused may be as high as trillions or even hundreds of trillions of RMB!
If this phenomenon is not stopped and rectified in time and allowed to continue, one day, unfinished buildings will be everywhere. By then, who will bear this huge responsibility? Who will be responsible for compensating the heavy losses suffered by the general public?
As local officials, municipal party committee secretaries and mayors must shoulder their due responsibilities!
After everyone returns to their respective posts, they will immediately begin to reduce the number of planned real estate projects.
For those engineering projects that have been under construction for three to five years but have not yet been completed and put into use, we must immediately organize forces to conduct a comprehensive and in-depth investigation, find out the specific reasons for the project delays, and make decisive and corresponding arrangements in accordance with relevant rules and regulations.
The banking system must also act quickly and actively carry out internal self-inspection and self-correction, with a focus on checking whether real estate companies have violated regulations by misappropriating project construction funds.
If such a phenomenon is indeed discovered, it is imperative to thoroughly investigate the whereabouts and use of these funds, who approved them, and whether there are any violations of laws and regulations.
The discipline inspection and supervision departments should go deep into various cities and counties and major banking institutions, conscientiously perform their supervisory and guidance duties, and ensure that all rectification measures are implemented without compromise. "
After saying that, he turned his gaze to Li Dakang.
"Comrade Dakang, you will be in charge of the rectification of the real estate market and promote it in an all-round way." Qi Tongwei was impressed by Li Dakang's vigorous and decisive work style.
Because of his wife Ouyang Jing, Li Dakang's official career path came to an end as expected.
Qi Tongwei used him to give him a chance, a chance to improve. He believed that Li Dakang would seize this opportunity. Only in this way could the influence of Ouyang Jing be eliminated.
"Yes, Secretary Qi." Li Dakang nodded heavily.