中国房地产报记者 邱桂奇 上海报道

China real estate news reporter QiuGuiJi Shanghai reported

　　“从8月开始，股份制银行及中小银行在房地产方面政策放宽，一是对房地产企业的授信范围有所放宽；二是各银行的房地产授信额度有所放宽。”上海某股份制商业银行的贷款部人士对记者表示。

"From the beginning of August,Joint-stock Banks and small and medium-sized Banks in real estate policy to relax,One is to the real estate enterprise's credit range have been relaxed;The second is the bank of real estate credit lines have been relaxed."Shanghai a joint-stock commercial bank advance department people told reporters.

　　而上海一家上市房企的高管也证实了这个消息，据该人士透露，比如原来银行只对100强授信，现在可以扩大到500强之前。

And Shanghai a public room enterprise executives also confirmed the news,According to the sources,Such as the original bank credit only to the top 100,Can now be expanded to 500 before strong.

　　交通银行(601328,股吧)金融研究中心早前发布的《2012年下半年中国宏观经济金融展望》，预测下半年信贷增量将较为平稳，月均新增贷款将在5000亿至6000亿元的水平，全年新增贷款将在8万亿元至8.5万亿元间。报告认为，新增对公贷款结构“短多长少”。而下半年，投资增速有所回升和楼市趋于回暖将带动中长期贷款增长，政策向松微调背景下，银行信贷供应能力较强，但政策不会大幅放松和高杠杆率限制企业借贷能力，也制约信贷增速过快。

Bank of communications(601328,guba)Financial research center released earlier[The second half of 2012 China's macro economic and financial outlook],In the second half of the forecast credit increment will be relatively stable,The average monthly new loan will be in 500 billion to 600 billion yuan level,The new loan will be in 8 trillion yuan to 8.5 trillion yuan between.The report says,New tests of loan structure"Short long less".And the second half of,The investment growth have rebounded and property market tends to thaw will drive long-term and medium-term loans growth,The policy loose trimming background,Bank credit supply ability is strong,But policy won't considerably relax and high leverage ratio limit enterprise lending ability,Also has restricted credit growth too fast.

　　大和证券首席经济学家孙明春表示，房地产宏观调控的政策目前不会放松，但可能进行一些微调，特别是在信贷上做一些微调。

And securities chief economist SunMingChun said,The real estate macroeconomic regulation and control policy are not relax,But may make some fine-tuning,Especially in the credit making some fine-tuning.

　　需求增加或刺激放贷 Demand increase or stimulus lending

　　虽然商业银行针对房地产信贷的整体政策并没有改变，但在个别项目的操作上却有松动迹象。“近期我们的一个项目就被银行抢走了。”上海一大型信托公司负责人对记者表示。据记者了解，他们公司正在做的一个项目已经经过公司审批，但却被合作方告知，他们申请的银行贷款也批了下来，由于信托融资的成本远高于银行贷款，合作方最终还是选择与银行合作。“这样的事情目前来看还是第一次遇到，按照以前的经验，银行对这样的项目是不会感兴趣的。”这位信托公司的负责人表示。

Although the commercial bank in the whole real estate credit policy has not changed,But in the operation of individual project has a loose sign."Recently one of our project was robbed the bank."Shanghai is a large trust company person in charge told reporters.According to reporter understanding,Their company is doing a project has been after the company examination and approval,But be partner told,They apply for bank loans also batch of down,Because trust financing cost is much higher than bank loans,Finally partner selection and bank cooperation."Such a thing so far still met for the first time,According to the previous experience,Bank of such programs are not interested."The trust company's person in charge said.

　　交通银行的报告也显示，下半年中长期信贷需求在企业和个人两端都有较强的增长。一方面，随着项目审批加快效应逐步显现，以及铁路、水利等基础设施建设投资力度可能逐步加大，预计固定资产投资增速将有所回升，进而带动信贷需求、特别是企业中长期信贷需求上升。另一方面，继续受政策向松微调的影响，预计房地产市场继续逐步回暖，成交量有望逐步回升，并带动住户中长期消费贷款需求增加。计算发现，商品房销售额同比增速领先住户中长期消费贷款增速约5个月。

Bank of communications report also shows,In the second half of the long-term credit demand in the enterprise and individual both have strong growth.On the one hand,With the project examination and approval to speed up the effect shown stage by stage,And railway/Water conservancy and other infrastructure construction investment may step by step,Fixed asset investment growth is expected to rebound,And then drive the credit demand/Especially the enterprise long-term credit demand rise.On the other hand,Continue to be policy to loose fine-tune the influence,The real estate market is expected to continue to gradually warmer,Volume is expected to rebound gradually,And bring long-term resident consumption loans increased demand.Calculation found,Commodity house sales year-on-year growth leading household long-term consumption loan growth about 5 months.

　　“从信贷均衡投放的角度推算，8月新增人民币信贷理论上在4400亿元左右。”兴业银行(601166,股吧)资深经济学家鲁政委认为，今年上半年信贷投放已经完成了7.5万亿元目标的61.6%，超过预定投放节奏“3∶3∶2∶2”的1.6%。如果第三季度末，信贷投放的额度控制在80%，那么，以第二季度各月的投放节奏来看，8月新增人民币贷款为4400亿元左右。

"From the point of view of the credit balance on the calculation,August new RMB credit theory in 440 billion yuan or so."Societe generale(601166,guba)Senior economist lu zhengwei think,In the first half of this year credit availability has completed 61.6% of the $7.5 trillion target,More than scheduled on the rhythm"3:3:2:2"1.6% of.If at the end of the third quarter,Credit availability of the quota and the control at 80%,so,In the second quarter of the produced on the rhythm to see,August new RMB loan for 440 billion yuan.

　　中银国际也表示，考虑到针对房地产市场的信贷政策未见实质性放松，对开发商的开发贷款预计不会有大幅度的变化。不过，在个贷方面，该报告认为，随着近期楼市成交的小幅回升，居民房屋抵押贷款的新增规模或有小幅增加。

Boc international also said,Considering the real estate market in the credit policy did not see substantial relaxation,The developers development loan is not expected to have substantial changes.but,In GeDai aspects,The report says a,With the recent property market, a small rebound,Residents housing mortgage loan of new scale or a small increase.

　　需求供应双轨制 The double supply demand

　　“我们要避免房地产市场的大起大落，就必须保持房地产政策的稳定性。但是，我觉得房地产政策应该有区别地对待需求和供应两个管道。”孙明春告诉记者。他认为，在需求方面的政策，比如限购，暂时还是不能够放松的，因为需求方面的政策主要是抑制投资、投机性需求。但是，在货币供应方面，这个政策应该是有放松的必要，包括放松银行、信托及各种渠道的贷款给开发商。

"We want to avoid the real estate market are always ups and downs,We must maintain the stability of the real estate policy.but,I think the real estate policy should be to deal with different demand and supply of two pipe."SunMingChun told reporters.He thinks,On the demand side of the policy,Such as purchasing,Temporary or can not relax,Because the demand side policy mainly inhibit investment/Speculative demand.but,In the money supply,This policy should be relaxed necessary,Including relax bank/Trust and various channel loans to developers.

　　孙明春告诉记者，现在开发商手上在建未完工的项目，按照去年的竣工量和竣工的面积来算，要四年半才能盖完。也就是说，哪怕开发商现在开始不拿地开新项目，只要给开发商钱，他们还有四年半的项目在等待完工。

SunMingChun told reporters,Now developers hands unfinished project under construction,According to last year's JunGongLiang and completion area to calculate,To four and a half years to cover the.That is,Even if developers now don't get to open a new project,As long as give developers money,They have four and a half years of project in waiting for completion.

　　“如果我们现在把信贷供应卡死，等将来有一天，我们需求方的政策放松的时候，由于开发商这边没有信贷，没有资金去建新项目，就会促使房价继续上涨。如果现在先把需求压一压，同时给开发商足够的资金去盖房子，增加供应量，让开发商把这些在建项目抓紧往前推动，那等于是我们把需求政策放松的时候，我们有足够的供应，这样就会达到供求的平衡。”孙明春说。

"If we now take credit GongYingKa death,Someday,We home-textile policy relaxation time,Because developers have no credit here,No money to a new project,Will make house prices continued to rise.If the first now demand pressure a pressure,At the same time give developers enough money to build the house,Increase supply,Let developers take these construction projects to push forward,So we put the demand policy relaxation time,We have enough supply,This will achieve the balance of supply and demand."SunMingChun said.

　　但从上半年各大银行提供的报表来看，地产信贷情况不是很乐观。从上市银行公布的半年报显示，多家银行房地产贷款余额罕见地出现下降情况。以建行为例，上半年，该行房地产开发类贷款余额为4178亿元，较上年末减少14亿元。工商银行(601398,股吧)董事长姜建清则在其上半年业绩发布会上表示，工行对房地产相关贷款持审慎态度，将力促房地产开发贷款余额的下降。

But in the first half from each big bank provides the statement to see,Real estate credit situation is not very optimistic.Released from listed bank semi-annual report shows,Many Banks real estate loan balance uncommonly decline situation.To the construction bank, for example,In the first half of,The bank real estate development class loan balance is 417.8 billion yuan,ShangNianMo a decrease of 1.4 billion yuan.Industrial and commercial bank of(601398,guba)The chairman jiang is in the first half performance conference said,Icbc to real estate related loan concurred,Will urge real estate development loans balance decline.

　　高盛资深中国经济学家宋宇表示，在政府推行了包括固定资产投资领域的放松政策之后，8月信贷增长有所加快。虽然从短期来看信贷供应增长是有利动向，但由于央行仍希望货币供应不要从当前水平出现过快上升，这可能是在一定程度上“预支”了9月份的信贷供应。

Goldman sachs senior Chinese economists SongYu said,The government introduced a including fixed asset investment field of relaxation after the policy,August credit somewhat faster growth.Although in the short term credit supply growth is a favorable trend,But due to the central bank still hope that the money supply from the current level don't appear too fast rise,This may be in a certain extent"advance"The September credit supply.

　　交通银行首席经济学家连平表示，如果新增信贷规模上升的话，个人住房按揭贷款以及平台贷款可能会有所增加。如果贷款的确是不好放出去，银行还可以通过放票据的形式来利用信贷规模，票据规模在占比上还有一定的提升空间。

Bank of communications chief economist even flat said,If the credit scale up words,Personal housing mortgage loans and platform loans may be increased.If the loan is really bad put out,The bank also can put through the form of instrument to use credit scale,Note in the scale of than there are certain promotion space.