Tuesday, April 22, 2014

【禁闻】90%地产商资不抵债 中小房企倒闭潮?

继浙江的〝兴润置业公司〞破产不到一个月,最近浙江海宁知名房企〝立德房地产公司〞目前也面临破产,南京也有多家小地产公司资金链出了问题 。有研究发现,目前有90%的地产商是〝资不抵债〞。那么,大陆 中小房企能走出破产潮的困局吗?请看报导。


大陆房企〝破产潮〞有扩散的迹象,又有地产公司面临破产。


浙江海宁〝立德地产公司〞是当地很有规模的房企,成立于1998年,十多年来已开发多个住宅项目。但现在,〝立德〞不能如期偿还多笔民间借款,多名债主已将〝立德〞告上法庭。


其实,早在2012年,这家公司就开始甩卖资产,旗下有多个专案烂尾,公司实际上已经破产。


当地地产界人士也表示,〝立德房产〞是海宁众多房企的缩影,当地还有几家资金链吃紧的企业。


就在15号,南京的上市企业〝舜天船舶〞发表公告说,有一笔银行委贷的资金过期没能够收回,本息超过1亿元。而借款的是〝南京福地房地产开发公司〞。后来传出了〝福地〞老板跑路的消息。


4月初,南京开发商〝盈嘉地产〞资金链断裂 ,某公寓楼施工暂停;南京城北的开发商〝绣景雅苑〞也出了问题。


而在3月,浙江奉化的〝房地产一哥〞——〝兴润置业〞,总负债35亿多元,严重资不抵债。


〝中央财经大学〞研究员宏皓在他的博文中表示,中国 90%的地产商早已是资不抵债。而且负债率都在150-200%以上。


宏皓认为,中央无论调控与否,地产泡沫都会破灭;只要融不到资,90%的地产商都会像〝兴润置业〞一样轰然倒塌。


截至目前,中国33家上市房企公布了一季度销售业绩,其中16家房企同比明显下滑,这让房企的资金更加紧张。


在大陆总计近9万家的房地产企业中,未来 有多少公司资金要出问题?


但是,总理暗示,〝只要没有系统 性地区风险,政府就不会干预太多,因为发生一些违约情况是无可避免的。〞


中文 杂志《》总编辑伍凡 :〝他就想把帐全部推给老百姓,共产一贯如此,不是现在如此,一贯如此,把所有的好处拿光了,把所有烂帐交给你老百姓,你饿死、渴死,他一概不管。 〞


根据日本《野村证卷》(Nomura)的估算,去年房地产建设直接占到中国GDP的16%。英国《》指出,卖地及房地产相关税收,占2013年总收入的38%,负债累累的地方政府,把高价土地作为大部分贷款的抵押品。


中国经济评论家叶檀分析了中共转嫁房地产危机的方法,她公开表示:中共当局就是想由民间存款的50万亿,来承接这个房地产大泡沫,替政府背包袱。


叶檀指出,〝收紧房贷,让真金白银的民间资金替银行与地方政府解套,没有比这个方法更美妙的了。保持房价上涨预期,资金源源不断流入房地产,财政无断炊之忧。希望到房价下跌时,值钱的土地卖得差不多了,银行已经成功软着陆。〞


去年底,〝中国企业资本〞的研究显示,中国城镇商品房存量已经超过240亿平方米,全中国空置住房总量已经达到6,800万套。这也代表,中国城镇住宅空置率达到了25%,远远超过5%到10%的国际认可合理范围。


最近大陆《证券日报》的记者通过调查发现,〝鬼城〞现象正逐渐成为小城市中的普遍现象。如山东潍坊目前的空房率就高达40%。


美国《中国事务》总编辑伍凡认为,在已经有7,000万套空房子的情况下,中共还要在2015年前建设3,600万套保障房,把房地产的路越走越死。


伍凡:〝现在房地产炒作了这么高,卖不出去。可以供2亿人口住的房子是空的,是养蚊子的,你没法处理,并且还要再去盖房子,不是脑筋有问题了吗?〞


伍凡指出,中共把房价越抬越高,很多普通老百姓根本买不起,甚至是所谓的〝保障房〞也买不起。


采访/易如 编辑/宋风 后制/李智远


In the tide of bankrupcy: 90% of real estate enterprises got involved in insolvency issues


Anchor: After the bankruptcy of Xing Yun Real Estate

Company (Ningbo, Zhejiang) in March, Lide real estate

company, which is a famous company in Haining, Zhejiang, is


also facing bankruptcy issues. The money chain problem also exists

in many small real estate companies in Nanjing. Studies have

found that 90% of real estate is insolvent currently. In what


way could the small & medium real estate companies get out

of the bankruptcy dilemma?


Voice: the bankruptcy tide of real estate companies is spreading,

there are real estate companies facing bankruptcy.


The Lide real estate company is a large enterprise in Haining,

Zhejiang. It was founded in 1998. It has developed several

residential projects for more than ten years. However, Lide


could not repay its borrowing from the public on time. Many

creditors accused Lide in the court.


In fact, the company started to put its assets on sale with

reduced prices as early as 2012. There are a number of

unfinished projects, the company is bankrupt.


Lide is the epitome of numerous real estate companies in

Haining, mentioned by the local real estate sector. There are

also several local businesses facing the tight cash flow

issue.


On April. 15, SaintyMarine, a listed company in Nanjing

published an announcement that there is an overdue

entrusted bank loan fund which is not recoverable. The


principal and interest are more than 100 million yuan. The

borrower is Nanjing Fudi Real Estate Development Company.

Later, it was mentioned in many messages that the boss of

Fudi has already fled.


In early April, the money chain of Yingdi Real Estate

Company broke. The building construction of an apartment

was suspended. Sujingyayuan, a developer in North Naijing is

also facing problems.


In March, Xingrun, the largest Real Estate Company in

Fenghua, Zhejiang was seriously insolvent with total liabilities

of more than 3.5 billion yuan.


Hong Hao, a researcher at the Central University of Finance and

Economics said in his blog post that 90% of real estate

enterprises in China are involved in insolvency issues. The


debt ratios of these companies are around 150%-200%, or

even bigger.


Hong Hao thought that the real estate bubble will burst

whether there is central regulation or not. As long as the lack

of financial capital existed, 90% of the real estate companies

will collapse like Xing Yun.


Up to now, 33 listed real estate companies announced the first

quarter sales result. There is a marked decline within 16 of

them. It makes capital for the real estate industry tighter.


There are nearly 90,000 real estate enterprises in China in total.

How many companies will face funding problems in the future?


However, the CCP Premier Li Keqiang implied that “As long

as there is no systemic risk in one area, the government will

not interfere too much, the occurrence of some defaults is

inevitable.”


Wu Fan, the Chief Editor of “Chinese Affairs” (a Chinese

magazine in U.S.): “They want to push all debts on to the public.

The CCP has always been the case –this case exists not


only now but for a long time. They take advantage and leave all

the bad debt to the public. They do not care whether you

starve or thirst.”


According to the estimates of Nomura, real estate

construction accounted for 16% of China’s GDP last year.

Financial Times pointed out that the sale of land and real


estate-related taxes accounted for 38% of the total income of

the CCP government in 2013. The indebted local governments

use the expensive land as the collateral for loans.


Ye Tan, a Chinese economic commentator analyzed the CCP

way to pass the real estate crisis. She said publicly: the CCP

authorities just want to undertake this great real estate bubble


by using the 50 trillion deposits from the private sector. The

burden for the government’s back –the deposits will be used to

lift the burden off the government.


Ye Tan pointed out that “To raise mortgages, then

private capital will be used by banks and local governments.

Nothing is more wonderful than this method. Housing


prices are expected to remain and the steady flow of funds

runs into the real estate industry. There will not be starvation

worries for government finance. I hope when it comes to a fall in house


prices, the worthless land was almost sold and the

bank has soft landed successfully.”


At the end of last year, according to research by “China

Enterprise Capital Alliance”, the urban housing stock reached

more than 24 billion square meters. Vacant houses


have reached 68 million units. It means that the Chinese

urban residential vacancy rate rose to 25%, which is far

more than the internationally recognized reasonable range –5% to 10%.


According to a recent investigation by Securities Daily, “

The Ghost Town” is becoming a common phenomenon in small

cities. The current vacant housing rate is up to 40% in

Weifang, Shandong.


Wu Fan thought that there are 70 million sets of empty houses.

However, the CCP still wants to build 36 million units of

affordable housing in 2015. The property road is down to die.


Wu Fan: “Real estate price is so high due to speculation.

It is difficult to sell. The houses which could be used by 200

million people are empty for raising mosquitoes. It is hardly the way to


deal with this problem but many houses are still waiting to be

built. Are there any mental problems? ”


Wu Fan pointed out that the CCP puts the housing prices

higher and higher, a lot of ordinary people can not afford it,

even for the “affordable housing”.


Interview/YiRu Edit/SongFeng Post-Production/Li Zhiyuan


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