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Real-time News
On August 28th, during the earnings call, Meituans management stated that in the second quarter, Meituan continued to strengthen its leading advantages in user structure, order structure, and operational efficiency. Looking ahead to the third quarter, the unit economics (UE) of food delivery is expected to improve significantly year-on-year, but will decline sequentially due to seasonal factors, and is expected to remain positive.Beike (BEKE.N) shares rose about 12% in pre-market trading after Chinas State Financial Regulatory Commission issued five management measures to reform and improve the real estate financing system.The *Trial Measures for the Management of Loans for Commercial Housing Development* draws heavily on the experience and practices of the "whitelist" mechanism, treating projects of different ownership equally and meeting the reasonable financing needs of commercial housing development projects. The *Trial Measures for the Management of Personal Housing Loans* reasonably adjusts the timing of loan disbursements, appropriately optimizes the upper limit of the income-to-debt ratio, and extends the upper limit of loan terms, protecting the legitimate rights and interests of homebuyers while better meeting residents rigid and improved housing needs. The *Trial Measures for the Management of Commercial Real Estate Loans* clarifies loan requirements for the development, purchase, and operation stages of commercial real estate, supporting the stable and healthy development of the commercial real estate market. The *Trial Measures for the Management of Loans for Urban Renewal Projects* guides banking financial institutions to enhance the accuracy, adaptability, and effectiveness of financial services for urban renewal, contributing to the high-quality advancement of urban renewal. The *Trial Measures for the Management of Trust Companies Trust Business in the Real Estate Sector* adheres to the principles of serving the real economy, controllable risk, and implementing investor suitability management. By clarifying business rules, strengthening professional capacity building, and enhancing investor protection, it promotes trust companies to better leverage their unique advantages in conducting trust business in the real estate sector.On August 28, the Peoples Bank of China and the State Financial Supervision and Administration Bureau issued a notice entitled "Opinions on Reforming and Improving Real Estate Credit Management and Promoting the Accelerated Construction of a New Model for Real Estate Development." The notice states that for borrowers of existing personal housing loans who experience temporary loss of income and difficulty in repaying their loans, banking financial institutions may, in accordance with market-oriented and rule-of-law principles, negotiate with borrowers to flexibly adjust repayment plans by reasonably postponing repayment times, extending loan terms, or delaying principal repayment.On August 28th, the Peoples Bank of China and the State Financial Supervision and Administration Bureau issued a notice entitled "Opinions on Reforming and Improving Real Estate Credit Management and Promoting the Accelerated Construction of a New Model for Real Estate Development." The notice defines housing rental development and construction loans as loans issued by banking financial institutions to various entities, including real estate development enterprises, industrial parks, rural collective economic organizations, and enterprises and institutions, for the construction of rental housing in accordance with laws and regulations. The term of housing rental development and construction loans is generally three years, with a maximum of five years.
