Greenland received over 2 billion yuan in project loans from China Postal Savings Bank and Xi'an Bank
2 billion yuan.
The supply and demand relationship in China's real estate market has undergone significant changes, and real estate policies are also being adjusted and optimized. In July of this year, the People's Bank of China and the State Administration for Financial Supervision and Administration issued a notice on extending the policy period for financial support to the stable and healthy development of the real estate market, extending the applicable period of the relevant policies. Among the 16 relevant financial support policies, "maintaining stable and orderly real estate financing" ranks first. The policy emphasizes the need to stabilize the allocation of real estate development loans and encourages financial institutions to focus on supporting the stable development of real estate enterprises with improved governance, focus on their main business, and good qualifications.
On September 12th, Xi'an Bank successfully disbursed 200 million yuan in financing for the 350 million yuan project of Greenland based on the progress of the project. The financing for this project is a development loan restructuring loan approved by Xi'an Bank to support the construction of the Greenland Xi'an North Railway Station residential project.
On September 14th, Greenland Group signed a cooperation agreement with China Postal Savings Bank to jointly promote the stable and healthy development of the real estate market. According to the agreement, China Postal Savings Bank actively responds to national financial policies and provides liquidity support for the real estate market through project financing as an opportunity. On the basis of fully understanding the industrial characteristics and business needs of Greenland Group, China Postal Savings Bank quickly formulated a plan, approved and implemented an operating property loan of 1.68 billion yuan with a term of 15 years as soon as possible.
In recent years, China's real estate industry has been in a period of deep transformation. Greenland Group stated that strengthening cooperation with relevant financial institutions and quickly implementing specific project financing in the near future will be beneficial for enterprises to further open up financing opportunities and achieve sustained, stable, and healthy development.
According to the 2023 semi annual report of Greenland Group, a series of targeted measures were taken in the first half of this year. While maintaining stable overall development, Greenland Group made every effort to promote a steady decline in its asset liability ratio, asset liability ratio after deducting accounts receivable, and various expenses. The balance of interest bearing liabilities continued to decline rapidly, and the quality of assets steadily improved, further enhancing its development resilience and room for maneuver.