" China's real estate financial year "is planning a new real estate agencies and think about the source of real estate brokerage co-sponsored session of the financial event, held this year for the fourth. Financial year will be invited to the real estate finance industry's top academics, experts and government officials, entrepreneurs, as well as well-known in the industry together to explore the relationship between real estate and finance, real estate financial resources to build the platform.

October 30, 2008 -31, the fourth Chinese real estate financial year will be held as scheduled, a heavyweight of the guests in attendance, and to explore the bank credit, private property fund, IPO market, trust, corporate debt, other non-governmental financing, Financial product innovation, and so on the subject, now in the resource-based background, the real estate for the session with the financial resources to provide integrated platform.

Record of the meeting

Chinese real estate finance for the fourth annua

Record of the morning session: Record】 【afternoon sessio

Moderator: Leaders, distinguished guests and friends from the media, Good morning! Chinese real estate finance our fourth annual meeting here in the grand opening. I once again on behalf of the organizers of the visit we welcome, first of all, tell us about the scene today as guest of honor.

The meeting was attended by the organizers, that is, our new real estate and real estate of new SEEC Media Group's leadership and financial magazine's editor-in-chief, that is, real estate magazine editor-in-chief of Mr. Wang Boming. This year we have a co-chief of the unit, is China's Minsheng Bank, China Minsheng Banking now to the leadership and brief you. Economic Committee of the CPPCC National Committee vice chairman of the Chinese stock market research and design center Director-General, the chairman of the China Minsheng Banking Corporation Mr. Dong Wenbiao, president of China Minsheng Banking Corporation Mr. Wang Tongshi, very cold today, the fourth this year by our well-known Chinese commercial banks To participate, we may find some of the warmer.

There are other guests, four years has been to cooperate with us in thinking about the source of the group's leadership Fortunately, there are invited to the Group of Wantong Mr. Feng Lun, chairman of the board. There in the afternoon before the People's Bank of China Deputy Governor Wu Xiaoling President, there is the Huayuan Mr. Ren Zhiqiang, will attend the afternoon.

We are following the beginning of the first agenda, first of all, the organizers of the leadership of his opening remarks, the first to invite China's securities market research and design center Director-General Mr. Wang Boming In his opening remarks, we welcome!

Wang Boming: Good morning everyone, welcome you to attend the fourth annual real estate finance. I would like to thank in particular the livelihood of the people on the banks of the General Assembly with the support and at the same time we can see that the leadership of the People's Bank of China has specially come to our annual meeting. Today the market is very special, I would say a few simple. We all are aware that we are the world's exposure to the financial crisis. The vast depth of the financial crisis, are likely to present here our age, our generation may not have imagined, because the depth in the end, more widely, nor is it our students to see before.

Now there are many signs that the United States by the time the loan is being caused by the financial crisis to financial crisis, but also from the United States to spread around the world. We could see that the financial crisis on China's impact may be slightly smaller. Although some institutions have also experienced the largest-ever financial crisis. Fortunately, however, and one of the world, our loss is still a little. However, after the financial crisis, brought about by the economic crisis than the impact of financial crisis is much deeper. As the economic crisis in China result in any significant effect, we have to wait and see. Yesterday, we saw that the People's Bank to reduce interest rates again, within half a year already three times the rate cut. So far these policies introduced by the Government enough? Can China cope with the current economic crisis, which we also have to wait and see.

China's economy, we should all realize that from 2007 to 2008, our economy is a significant first-yang, but less than half a year, our GDP growth of 11.9 percent from the third quarter to about 9 % Decline in the speed of reform and opening-up are 35 years never happened. Here, the basic There is no doubt that the 2007 to 2008 and 2008 into 2009 was very different. China's real estate industry is going through a property has been the most serious challenges. Now for the real estate industry, our presence has been controversial, is on the bubble, in the end how to treat this kind of bubble. Now I talk to real estate, is no longer a bubble not a bubble, but China's real estate, how the central policies introduced, the real estate industry to help ease the plight of the real estate industry. However, the plight of the real estate industry itself is not the real estate itself. This is because China's economy out of the capacity of the financial crisis brought about by the impact. The real estate sector to play a very important role. China's real estate sector driven economy is too important to pull the plane was also too high. Therefore, the real estate industry is not just real estate bubble, but China's economic success out of the current financial crisis.

This is the real estate market is currently out of the financial crisis, can China's economy over the next two or three years out of the crisis, is necessary as the Government's hand. And the introduction of this policy, we feel that in accordance with traditional thinking in the past issued a policy perspective, efforts may not be enough. So to do this, point out some small policy may be unable to change the current plight of the real estate industry. Now look at the possibility of a significant conflict with the Government introduced a wide range of financial policies to see if there is no "combination of boxing" and the "combination of boxing," efforts should be large enough.

I think" real estate "to do a very good thing. Because now the demand for information is very large, in the end the following happened to be a problem. Including the United States over the financial crisis to financial crisis, we and the United States, some of the major economists engaged in a dialogue. From the beginning until now, they did not find out how deep this time, more widely, in the end will be a problem. Therefore, in China, many of the economists forecast, we may not have the financial crisis affected, but this piece of the economic crisis, fix the world may be even greater than the impact of U.S. influence on the world . So this time of year will be held in real estate finance to all of us together next year in the end analysis is a form of what is very good. Therefore, the General Assembly to thank the sponsors, partners and at the same time I wish we would be this year, the impact on the future of China's economy, the most important thing is that people's real estate industry, how to develop the next step. Hope that the meeting will be able to give you a wealth of information, also wished the meeting a complete success, I would like to thank you all!

Moderator: Thank you, General Wang's speech, King of the total world economic analysis of the situation, also implies that we have this meeting. In the real estate industry, the bank's role is one of the most important role. We now call on the China Minsheng Bank, and Wang Shi-Tong.

Tong: Ladies and gentlemen, first of all, I welcome you on behalf of the Bank of China to participate in Chinese real estate finance annual meeting. Property is one of China's economic growth is an important driving force for the contribution to the GDP, rose 4% from 7%, next year if the growth rate of real estate fell to 5 percent, believe that the GDP would have a greater impact. Bank loans in the first half of the additional 15% invested in real estate, if there are problems in the real estate industry, will affect the financial stability. At this stage we can see the shrinking volume, the increase in the stock. In the first three quarters this year, a major city real estate transactions fell by 50%. This is also a fast rising housing prices over the past few years, excessive investment in real estate some of the amendments. Fluctuations in the real estate cycle is a normal phenomenon, but the financial environment more complex. At the same time, China's economy is facing a structural transformation of the global economic recession, for various reasons, so that degree of uncertainty. The effect of such resonance in the end to China's real estate how much impact on how we should deal with. Therefore, the Annual Meetings of the financial crisis is also one of the main topics.

In the face of the real estate market adjustment, complex international and domestic financial environment, the Government to take decisive measures to deal with. Recently introduced a relaxation of the mortgage loans, tax relief and so on the purchase of preferential policies, local governments have also issued favorable policies. From a strategic point of view, the real estate should never need to reflect on the level, so there is time for relaxation and expansion of the forward-looking layout. We can look at the real estate over the past decade the National cumulative sales of commercial housing, family coverage reached 15%. By increasing investment in the past year and a decline in trading volume extrusion, the country's 13 cities could be the growing supply of houses for sale, if the construction floor space in the hands of investors and second-hand housing, I believe the next two years, the market is to buy a house . At present, adopt a pragmatic conservative strategy for the industry, good for the bank is also beneficial. As a bank, China Minsheng Bank has been very concerned about the Chinese real estate industry. Our real estate business since the founding of the face of this year's changes in the market, many of the recommendations proposed by the relevant departments, also suggested that the distinction between science and the demand for housing, the normal self-occupied and the improvement of housing needs to be encouraged to relax the conditions for consumer loans, positive To stimulate demand, but also to respect the recommendations of the regional differences in digestion and encourage the development of the central place in the general principles under the premise that the development of local industry to encourage the development of real estate. Also recommended the strengthening of the real estate market information and transparency norms, the formation of the real estate market and the long-term healthy development, and so on. This shows that Minsheng Bank has been actively involved in the development of the industry's enthusiasm and resolve their own real estate business with the industry to build a research, product development, marketing and risk management professional bodies, as China's real estate development and make due Contribution.

Today is the property of the financial year will be to build a platform for participants to explore the various sectors of our industry faces new problems, new challenges. Property and hopes to strengthen the financial sector more exchanges and cooperation to find common industry development, I wish the meeting a complete success, I would like to thank you all!

Moderator: Thank you, Governor of King's speech, the president of Wang's speech also showed that the commercial banks industry for the long-term development, or full of confidence, and expressed their support and long-term aspiration of the common development. We also know that the real estate sector in China outside of the community who are most concerned about is the policies. The beginning of the following keynote speech, we have invited China's urban and rural housing and the Ministry of Construction Policy Research Center, Miss Qin Hong, deputy director of us talk about some of the views in this regard.

Qinhong: Good morning, ladies and gentlemen, during this period of time, we have two real estate market phenomenon. The first is the confusion, many of our corporate development and marketing of the industry, everyone on the current situation of low real estate situation in the sense of how long do not understand. Because we do not understand why only one year, the real estate market appeared冰火两重天. This time last year, our real estate is a booming business. However, only every other year, we have a lot of ways to develop business, discount, promotion, also preferential not sell the house, which is why we are the first puzzled. The second is that should not "rescue" of the controversy. I would like to talk about the problems of the two individuals.