Since the beginning of this year, the investigation and punishment of illegal inflow of credit funds into the property market has continued to strengthen the visual China map.

The operating loan arbitrage from banks alone reached 380 million yuan, and funds were also raised in the name of mutual fund assistance. And these funds have been used for illegal real estate speculation. This is the latest investigation result of the sensational “Shenzhen Housing Management” illegal real estate speculation four months after the case was filed for investigation.

On August 7, Shenzhen announced that a joint investigation and handling working group composed of the Shenzhen Municipal Bureau of Housing and Urban-rural Development, the Public Security Bureau, the Banking and Insurance Regulatory Bureau, the Shenzhen Branch of the People’s Bank of China, the Market Supervision Bureau, the Local Financial Supervision Bureau, and the Cyberspace Administration of China It was found that Shenzhen Real Estate Co., Ltd. obtained bank loans such as housing mortgages, business loans, and consumer loans, amounting to 1.06 billion yuan.

This is not all the funds that Shenzhen’s operating loans illegally flowed into the property market. The joint investigation team found that the illegal inflow of operating loans in the real estate sector that has been discovered so far amounts to 2.155 billion yuan. In March of this year, the amount notified by the regulatory authorities was only 57.18 million yuan.

Since the beginning of this year, the investigation and punishment of illegal inflow of credit funds into the property market has continued to strengthen. In March, the three departments jointly issued a document requesting all banking and insurance regulatory bureaus, local housing construction departments, and branches of the People’s Bank to carry out special investigations on illegal inflows of loans for business purposes into the real estate market, and the results of the investigation have continued to appear. In many places, the Banking and Insurance Regulatory Bureau has issued large fines for the illegal inflow of business loans and consumer loans into the real estate sector.

Shenzhen Real Estate Co., Ltd. took over 1 billion bank loans

According to the Shenzhen notification, after preliminary investigations, Shenzhen Real Estate was suspected of a number of violations of laws and regulations, including crowdfunding and holding on behalf of real estate, illegal arbitrage of credit funds into the real estate market, and illegal fund-raising. Currently, 2 suspects have been arrested and 3 suspects have been detained.

Shenfangli is certified as a “real estate expert” on Sina Weibo, and its Weibo account has attracted 1.46 million followers and more than 3,000 members. In early April of this year, after the “Shenzhen Housing Management” illegal real estate speculation was publicly reported by netizens, which aroused high public concern, the Shenzhen Municipal Bureau of Housing and Urban-Rural Development, the Public Security Bureau and other seven departments set up a joint investigation and handling working group to investigate.