The Wealth Empire Crossing the Hong Kong

Chapter 239 Tightening Mortgage Loans
At the high-level meeting of Xinjian Group, after listening to the loan report of Xinjian Bank, Li Jianhui specifically made three requirements in order to avoid too many bad debts in the next few years.

First, improve the review standards for loans to real estate companies and reduce loans to small and medium-sized real estate companies.

The second is to strictly investigate the revolving mortgage loans of real estate speculators. Anyone who has two or more housing loans will not be granted a loan.

The third is for those who have already loaned out, it is necessary to track and grasp the situation of the loan company. Once there is a problem with the other party's funds, it is necessary to recover the loan in time to reduce the bank's losses.

He doesn't know if the stock market will fall next year. As long as Thatcher visits the capital the year after next as in his previous life, the housing price bubble will definitely burst.

Only relying on the Xinjian Department, housing prices cannot be suppressed. After all, his projects are not many in Hong Kong Island and Kowloon, and the citizens mainly choose to make their homes in these two places.

Li Zaiwei is not surprised by these requirements of Li Jianhui. As a senior executive of the Xinjian Department, Li Jianhui has asked Hutchison Real Estate and Xinjian Real Estate to reduce land acquisition and development in Xiangjiang at many meetings this year, and shift their focus to Baodao. and the Japanese market.

Li Jianhui's attitude shows that he is pessimistic about Xiangjiang's real estate market in the next few years, and now he is asking for bank loans, which is more proof that the real estate bubble that has grown rapidly is likely to burst.

Perhaps the events of 73 will be repeated, and real estate will soon turn from prosperity to decline and enter a period of trough.

Pan Kezhi, chairman of the board of directors of Xinjian Bank, said: "Li Sheng, will the previous preferential policies be continued for the employees of the Xinjian Department?"

"The preferential policy for the employees of the Xinjian Department has been changed to the first house, and the approval of mortgage loans for their multiple houses has been temporarily suspended. No matter how many people in the family work under our banner, more than one house will not be approved in the future."

As an employee of the Xinjian Department, I am relatively happy. The price of buying a house in the Xinjian Department is 10% lower than that of outsiders, and the loan interest is also 10% lower than others.

Moreover, the down payment of these people is also quite low. If the management has signed a long-term employment contract with the company, they can even have zero down payment.

Today, the army of real estate speculators is growing day by day. Li Jianhui believes that there must be employees in the Xinjian Department, or the employees' family members.

Before, he turned a blind eye and pretended not to see it, but from today onwards, in order to prevent Xinjian Bank from being dragged down in the future, restrictions will be imposed at this time.

If the bubble bursts two years later and the price starts to plummet, the loss will not be too great. After all, the current housing price is not at its peak. In addition, these people have paid the down payment and paid the monthly payment for several years. Xinjian Bank will not lose money by piling up houses.

As for the losses of those who speculate in real estate, it has nothing to do with him. In the Xinjian Department, Li Jianhui specifically reminded his employees not to speculate in real estate.

And at the beginning of next year, he will advise his employees who are overleveraged to sell the excess real estate in their hands. It is up to them to listen to them.

This time, not only Xinjian Bank, but also the leaders of Defeng Bank, Ka Wah Bank, Youlian Bank, and Xingchuang Bank secretly controlled by the people behind them also began to reduce loans to real estate.

In addition, Dongya, Daoheng, and Yongan, which hold mutual holdings with Xinjian Bank, have also introduced policies one after another, improving the loan approval conditions for real estate.

All of a sudden, the mountains and rains were about to come and the wind filled the buildings, casting a shadow over the real estate industry that has been booming in recent years.

This time, it is not a single bank that has strengthened the review. It includes the top three local Chinese-funded banks in Xiangjiang, Xinjian, East Asia, and Wing Hang, as well as Wing On Bank, which has been developing rapidly in the past few months.

Defeng Bank, Xingchuang Bank, Ka Wah Bank, and Union Bank, which are controlled by foreign capital and are developing rapidly, have also raised their standards for reviewing real estate loans.

At the same time, Wing Lung Bank, Hong Nian Bank, Sun Hung Kai Bank, Heung Kong Kwong On Bank, etc. also followed Xinjian Bank's footsteps and announced to the outside world that they would increase the conditions for reviewing real estate loans.

So many forces are looking at the empty real estate industry without any warning, which makes many real estate speculators feel panicked.

We must know that no matter whether it is the Donghua consortium or the two major consortia, Huaxin and Xianghua, all of them own the top ten real estate companies in Xiangjiang.

Even they themselves said that they are not very optimistic about the future real estate market, and they have stepped up loan review one after another. How can those who hold a large amount of real estate not panic.

These people are actually quite smart, otherwise they wouldn't be playing like this, and they know better than anyone whether the current housing prices are normal.

It's just the development of Xiangjiang's economy, coupled with the substantial increase in population every year, and the promotion of real estate developers, banks, and the Brian government, so they believe that this game can continue to be played.

It's a pity that they met Li Jianhui, a guy who doesn't play cards according to common sense. It doesn't matter if the prices of Tianshui City and Huihong City are low, they will stay away from these two areas at worst.

I didn't expect to use this trick again this time. Such a move is bound to make countless citizens lose confidence in real estate prices in the next few years. Those who are really planning to buy a house may choose to postpone it, which is a great blow to them.

Now that so many banks choose to raise the bar, it is very difficult for them to get a loan in these banks anymore.

If they are all squeezed into HSBC, Standard Chartered, Hang Seng, Hang Lung and other banks, I am afraid that these banks will also have a high probability of raising their conditions. After all, no bank dares to lend funds to real estate.

What they are most afraid of now is a wave of selling. After all, they do not have a perfect organization and no constraints. Under pressure, it is normal to cash out and leave.

Once there are more such people, there will be more real estate in circulation on the market, and the price will naturally drop, or even plummet.

Shareholders of Xiangjiang were also panicked along with these people, and the stock prices of listed companies in Xiangjiang real estate began to plummet due to this.

Whether it is Hutchison Land, Chinese Land, Guanghua Construction, Kowloon Construction, or Jardine Land, Hang Lung Properties, Sun Hung Kai, Cheung Kong, etc., none of them escaped the fate of a sharp drop in stock prices.

On the contrary, Wheelock Land, which has now shifted its focus to commercial real estate, has fallen to a certain extent due to this impact, but compared to other real estate companies, Wheelock Land has the lowest decline.

I don't know how many people are gnashing their teeth at the Xinjian Department. The culprits who caused this disturbance are obviously Li Jianhui and the Xinjian Department. They were developing well, but it was because the Xinjian Department took the lead in raising the standards for real estate audits, which caused a chain reaction.

This is entirely Li Jianhui's plan to kill one thousand and self-injure eight hundred. They are not feeling well, and the Xin Jian Department is not much better this time. The stock prices of many listed companies have fallen by more than 5%, and Hutchison Land has even fallen. up 12%.

In the eyes of many people, Li Jianhui obviously wants to curb the rise of Xiangjiang Real Estate, and his purpose is to meet the needs of his own industrial development.

The Xinjian department is different from most of them. The other party not only owns real estate, but also media, retail, home appliances, automobiles, clothing, jewelry and other industries.

With lower housing prices, citizens will have more money to spend on consumption. In this regard, the Xinjian Department will obviously be the biggest beneficiary. As real estate-based, they can only become spectators.

(End of this chapter)