Further Strengthening the Administration of Real Property Credit Business Circular
关于进一步加强房地产信贷业务管理的通知
A circular which addresses the administration of Real Property Credit Business in the PRC.
(Issued by the People's Bank of China on June 5 2003.)
(中国人民银行于二零零三年六月五日下发。)
To all branches and business management departments of the People's Bank of China, all wholly State-owned commercial banks and share system commercial banks:
中国人民银行各分行、营业管理部，各国有独资商业银行、股份制商业银行：
In order to further implement real property credit policies, control financial risks and promote sound development of real property financing, the People's Bank of China hereby issues this Circular on requirements for further strengthening the administration of real property credit businesses:
为进一步落实房地产信贷政策，防范金融风险，促进房地产金融健康发展，现就加强房地产信贷业务管理的要求通知如下：
1. Strengthening Administration of Real Property Development Loans and Directing and Regulating the Utilization of Loans
一、 加强房地产开发贷款管理、引导规范贷款投向
Borrowers of real property development loans shall be real property developers that possess real property development qualifications, have a comparatively high credit standing and have no construction payments in arrears. Loans shall be used with an emphasis on supporting residential premises affordable by medium to low income families. Utilization of loans to finance the purchase of large household, large-sized and luxury commodity premises and villas shall be restricted appropriately. The extension of new loans to real property developers that have a high commodity premises vacancy rate and a high debt ratio must be strictly examined and specially monitored.
房地产开发贷款对象应为具备房地产开发资质、信用等级较高、没有拖欠工程款的房地产开发企业。贷款应重点支持符合中低收入家庭购买能力的住宅项目，对大户型、大面积、高档商品房、别墅等项目应适当限制。对商品房空置量大、负债率高的房地产开发企业，要严格审批新增房地产开发贷款并重点监控。
All commercial banks shall fully implement the Ministry of Construction, State Development Planning Commission, Ministry of Finance, Ministry of Land and Resources, People's Bank of China and State Administration of Taxation, Strengthening the Macro-economic Control of the Real Property Market and Promotion of the Sound Development of the Real Property Market Several Opinions (Jian Zhu Fang [2002] No.217), and shall not grant any kind of loan for any project for which a leasehold certificate, a construction land planning permit, a construction project planning permit or a construction work commencement permit has not been obtained.
各商业银行应严格执行《建设部、国家计委、财政部、国土资源部、中国人民银行、国家税务总局关于加强房地产市场宏观调控促进房地产市场健康发展的若干意见》(建住房[2002]217号)，对未取得土地使用权证
书、建设用地规划许可证、建设工程规划许可证和施工许可证的项目，不得发放任何形式的贷款。
Commercial banks may only grant loans applied for by real property developers under the category of real property development loans. Granting loans under the category of real property development working capital loans or any other category of loans is prohibited. For non-real property development loans already granted to a real property developer, commercial banks shall follow the principle of sole recovery but shall not grant any more loans. A real property developer applying for a bank loan must have its own funds (owner's equity interest) in an amount not less than 30% of the total investment of the development project concerned.
商业银行对房地产开发企业申请的贷款，只能通过房地产开发贷款科目发放，严禁以房地产开发流动资金贷款及其它形式贷款科目发放。对房地产开发企业已发放的非房地产开发贷款，各商业银行按照只收不放的原则执行。房地产开发企业申请银行贷款，其自有资金(指所有者权益)应不低于开发项目总投资的30%。
A real property loan granted by a commercial bank may only be utilized for developing real property projects in the same locality as the commercial bank. The utilization of real property loans in other localities is strictly prohibited.
商业银行发放的房地产贷款，只能用于本地区的房地产项目，严禁跨地区使用。
2. Strict Control on Granting of Land Reserve Loans
二、 严格控制土地储备贷款的发放
All commercial banks shall regulate the administration of loans to governmental land reserve organizations, and shall be prudent in granting such loans prior to the promulgation of the Administration of the Loans to Land Reserve Organizations Procedures. Any loan granted to a land reserve organization shall be a mortgage loan and the amount shall not exceed 70% of the assessed value of the land to be acquired. The term of such loans shall be no longer than two years.
各商业银行应规范对政府土地储备机构贷款的管理，在《土地储备机构贷款管理办法》颁布前，审慎发放此类贷款。对土地储备机构发放的贷款为抵押贷款，贷款额度不得超过所收购土地评估价值的70%，贷款期限最长不得超过2年。
Commercial banks shall not grant loans to real property developers to finance payment for leasehold fees.
商业银行不得向房地产开发企业发放用于缴交土地出让金的贷款。
3. Regulating the Use of Working Capital Loans by Construction Enterprises
三、 规范建筑施工企业流动资金贷款用途
Commercial banks shall strictly prevent construction enterprises from utilizing bank loans for making advance payments in respect of real property development projects. A construction enterprise acting as a contractor for a real property project may only use its working capital loan funds for purchase of essential construction equipment (such as cranes, excavators and bulldozers). Where an enterprise misappropriates the working capital loan funds, the granting bank must recover the misappropriated funds within a prescribed period and notify all other local commercial banks of such illegal act of the enterprise, and all other commercial banks shall be prohibited from providing corresponding credit support to such enterprise. Commercial banks shall restrict lending to construction enterprises undertaking real property construction projects whose own funds are inadequate or whose accounts receivable are of a large amount.
商业银行要严格防止建筑施工企业使用银行贷款垫资房地产开发项目。承建房地产建设项目的建筑施工企业只能将获得的流动资金贷款用于购买施工所必需的设备(如塔吊、挖土机、推土机等)。企业将贷款挪作他用的，经办银行应限期追回挪用资金，并向当地其它的商业银行通报该企业违规行为，各商业银行不应再对该企业提供相应的信贷支持。对自有资金低、应收账款多的承建房地产建设项目的建筑施工企业，商业银行应限制对其发放贷款。
4. Strengthening Administration of Individual Housing Loans, Putting Emphasis on Support to the Need of Medium and Low Income Families to Purchase Residential Premises
四、 加强个人住房贷款管理，重点支持中低收入家庭购买住房的需要
Commercial banks shall further expand their individual housing loan clientele to expand the beneficiary group to residential premises loans. To lessen unnecessary interest payment burdens on borrowers, commercial banks may grant individual housing loans only to individuals purchasing residential premises, the main structures of which have been topped out. A borrower applying for an individual housing loan for the purchase of the first residential unit for his/her own use shall make a down-payment equivalent to 20% of the total price of the unit to be purchased. The down-payment shall be appropriately increased for purchase of subsequent residential unit(s).
商业银行应进一步扩大个人住房贷款的覆盖面，扩大住房贷款的受益群体。为减轻借款人不必要的利息负担，商业银行只能对购买主体结构已封顶住房的个人发放个人住房贷款。对借款人申请个人住房贷款购买第一套自住住房的，首付款比例仍执行20%的规定；对购买第二套以上(含第二套)住房的，应适当提高首付款比例。
A commercial bank shall input details of individual housing loans that it grants into the credit record and inquiry system maintained at the local branch of the People's Bank of China. Such details shall include the amount of the loan granted to each borrower, the term of the loan and the identification card numbers of the borrower and his or her spouse. A commercial bank shall, before granting an individual housing loan, check the information in the credit record and inquiry system.
商业银行应将发放的个人住房贷款情况登记在当地人民银行的信贷登记咨询系统，详细记载借款人的借款金额、贷款期限、借款人及其配偶的身份证号码。商业银行在发放个人住房贷款前，应到信贷登记咨询系统进行查询。
5. Intensifying Administration of Individual Commercial Unit Loans
五、 强化个人商业用房贷款管理
The loan-to-value ratio of an individual commercial unit loan applied for by a borrower shall not exceed 60%, and the term of such loan shall not exceed 10 years. A commercial unit that is the subject of such a loan shall be a completed unit that has been accepted upon inspection. A commercial bank shall process a loan application to finance the purchase of a unit for both residential and commercial purposes in accordance with the provisions on administration of individual commercial unit loans.
借款人申请个人商业用房贷款的抵借比不得超过60%，贷款期限最长不得超过10年，所购商业用房为竣工验收的房屋。对借款人以“商住两用房”名义申请银行贷款的，商业银行一律按照个人商业用房贷款管理规定执行。
6. Fully Utilizing Interest Rate, as a Lever to Adjust Demand for Individual Housing Loans
六、 充分发挥利率杠杆对个人住房贷款需求的调节作用
When a borrower applies for an individual housing loan to finance the purchase of a residential unit under the housing reform scheme or his or her first residential unit for self use (excluding luxury commodity premises and villas), a commercial bank shall apply the interest rate for individual housing loans published by the People's Bank of China (which must not be a floating rate). When a borrower purchases a luxury commodity premises, villa, commercial unit or subsequent residential unit, a commercial bank shall apply the current interest rate for regular loans with same terms and conditions as published by the People's Bank of China.
对借款人申请个人住房贷款购买房改房或第一套自住住房的(高档商品房、别墅除外)，商业银行按照中国人民银行公布的个人住房贷款利率(不得浮动)执行；购买高档商品房、别墅、商业用房或第二套以上(含第二套)住房的，商业银行按照中国人民银行公布的同期同档次贷款利率执行。
7. Strengthening Administration of the Granting of Entrustment Loans in Respect of Individual Housing Common Reserve
七、 加强个人住房公积金委托贷款业务的管理
All commercial banks shall strictly implement the relevant provisions of the People's Bank of China, Strengthening the Administration of Credit Business for Housing Common Reserve Circular (Yin Fa [2002] No.247), strengthen management of accounts, maintain good relationships between parties to the entrustment and promptly rectify any act that violates relevant provisions. The business of providing housing entrustment loans shall be limited to individual housing common reserve entrustment loans. Commercial banks shall not grant entrustment loans supported by other housing reform funds (including proceeds of housing sales, housing subsidies and residential housing maintenance funds).
各商业银行应严格执行《中国人民银行关于加强住房公积金信贷业务管理的通知》(银发[2002]247号)的有关规定，切实加强账户管理，理顺委托关系，对违反规定的有关行为应即刻纠正。住房委托贷款业务仅限于个人住房公积金委托贷款，对使用其它房改资金(包括单位售房款、购房补贴资金、住房维修基金等)委托办理贷款业务的，商业银行一律不得承办。
8. Strengthening the Administration of Real Property Credit Business
八、 切实加强房地产信贷业务的管理
Branches of the People's Bank of China shall devise a system of real property credit business analysis in order to follow up, investigate and analyze real property credit granted by commercial banks, and shall order a commercial bank that has breached any law or statute to rectify such breach within a prescribed period of time and impose administrative penalties in accordance with the law.
中国人民银行各分支行应建立房地产信贷业务分析制度，跟踪、调查、分析商业银行房地产信贷执行情况，对违法违规行为要责令商业银行限期改正，并依法给予行政处罚。
Branches and business administration departments of the People's Bank of China are required to forward this Circular to all city commercial banks and township and rural credit cooperatives within their jurisdiction.
请中国人民银行各分行、营业管理部将本通知转发至辖区内各城市商业银行、城乡信用社。
1. Unofficial translation provided by Clifford Chance. All rights reserved.
clp reference:3520/03.06.05promulgated:2003-06-05This premium content is reserved for
China Law & Practice Subscribers.
A Premium Subscription Provides:
- A database of over 3,000 essential documents including key PRC legislation translated into English
- A choice of newsletters to alert you to changes affecting your business including sector specific updates
- Premium access to the mobile optimized site for timely analysis that guides you through China's ever-changing business environment
Already a subscriber? Log In Now