The bubble is expected to trigger "two pauses" in the international tourist island

With the construction of Hainan International Tourism Island as a national strategy, Hainan has become a hot spot for all parties. The relevant departments in Hainan announced the suspension of commercial development of land transfer and approval of new real estate development projects. What does this “two suspensions” mean for the construction of international tourism islands?

[Mide Point Network] The province's promotion of the International Tourism Island Construction Mobilization Conference announced that: before the end of March this year, the commercial development of land will be suspended, new real estate development projects will be suspended, new land development and large-scale theme park projects will be held in the country. The National Development and Reform Commission officially approved the "Hainan International Tourism Island Construction and Development Plan" and then started.

Hainan’s “Promotion of the International Tourism Island Construction Mobilization Conference” held on January 15th is a “transparent” conference broadcasted on television and online. At this meeting, Wei Liucheng, secretary of the Hainan Provincial Party Committee and director of the Standing Committee of the Provincial People's Congress, announced that from now until the end of March this year, the commercial development of land will be suspended, and new real estate development projects will be suspended (two suspensions). Land development and large-scale theme park projects will be launched after the National Development and Reform Commission officially approves the “Hainan International Tourism Island Construction and Development Plan”.

When the news came out, it was widely spread through the Internet and caused strong repercussions and heated discussions throughout the country.

The external assessment of the "two pauses" is this: This is the most impactful and influential measure introduced by the Hainan Provincial Committee after the construction of Hainan International Tourism Island has become a national strategy. Compared with the real estate fever in the 1990s, “Hainan has matured”, and the Hainan Provincial Party Committee and the provincial government have fully demonstrated their ability to “manage the market economy”.

Suppressing the expected bubble to ensure a good start to the international tourism island construction

“There are more than 20,000 real estate companies on the island with a total population of 6.558 million. In just three years, house prices have increased by more than four times.” This document records the prosperity of the Hainan real estate bubble in the 1990s. From January 4, 2010, Xinhua News Agency announced that the construction of Hainan International Tourism Island has risen to a national strategy. In the short span of half a month, Hainan Real Estate seems to have begun to show a scene that was familiar to each other. Even CCTV reporters interviewed the provincial party secretary Wei Liucheng. I also asked with all worries: "Has Hainan revived the enthusiasm of real estate in that year?"

Although the "heat" of the two periods is essentially different, during this half-month, people noticed that the provincial party secretary Wei Liucheng and the governor Luo Baoming repeatedly reminded the relevant department heads and local party committee governments on different occasions. The main person in charge should be “highly vigilant and closely monitor” the current real estate trend!

“The painful lessons of over- and out-of-control supply of land in Hainan in the early 1990s are particularly worthy of today.” The relevant person in charge of the Ministry of Land and Resources of Hainan Province said that the current real estate development in Hainan Province is generally stable and healthy, and it cannot be ignored with international tourism. The island has risen to the national strategy, and there have been some abnormal phenomena in the sales of real estate. At the same time, there have been signs of over-delivery in some places. "The 'two suspensions' is very timely and decisive. It is a correct and rational decision made by the provincial party committee and the provincial government according to the actual situation of the land market management in our province. It is conducive to the rational development, utilization and protection of the land resources of our province. The long-term development of Hainan has effectively ensured the good start of the construction of international tourist islands and the steady and healthy development of real estate."

Tong Shijun, a member of the National Committee of the Chinese People's Political Consultative Conference and the chairman of Hainan Jiafeng Shangrong Investment Co., Ltd., who experienced the Hainan real estate bubble in the 1990s, used the “just right” to evaluate the “two pauses”. He believed that the Hainan Provincial Party Committee and the provincial government seized the root of the problem. In the face of the vigorous development situation, it maintained a valuable calm and rationality. When the conditions were not mature, it decided to stop the land, and mercilessly suppressed the expected bubble of real estate.

Although Liao Xun, vice president of the Party School of Hainan Provincial Party Committee, is worried that the "two suspensions" will trigger short-term fluctuations in the real estate market, he believes: "From the long-term strategic goal of the international tourism island, the 'two suspensions' are for a more stable and faster Development." He further stated that land resources are limited and that the greatest economic and social benefits should be exchanged for the least amount of land costs, balancing the interests of all parties, rather than infinite and disorderly development.

Strengthening scientific planning to guide the layout of the International Tourism Island project

The construction of an international tourist island is a long-term process. It is not a short-term impulse and enthusiasm. The rational and orderly supply of land is a rigid guarantee.

As the official in charge of land management in the province, the person in charge of the Land and Resources Department of Hainan Province believes that the ideal state of orderly supply of land is that governments at all levels can effectively control the pace and total amount of development. Under the unified plan, everyone sinks their hearts. We will do our best to implement one project according to plan. He believes that the introduction of "two suspensions" at this time has paved the way for this ideal state, which is conducive to the "pre-establishment of rules and regulations" for the next international tourist island. He said that how to arrange the game of Hainan International Tourism Island is going to be guided by the "Hainan International Tourism Island Construction and Development Plan", and the official introduction of the general rules will take time. If there is no rule to arbitrarily approve the project in this “vacuum” period, it will inevitably cause waste of resources to set obstacles for the next step of development, and it is also an irresponsible attitude towards the enterprise.

With the construction of Hainan International Tourism Island as a national strategy, many large enterprises with strength and influence have expressed their willingness to participate in the construction of Hainan International Tourism Island through various means. “The enthusiasm of enterprises for the recognition and construction of international tourist islands deserves our cherishment.” The person in charge said that the more this situation is, the more it needs to be responsible for Hainan and the company, and supply land according to plan. In this way, we can achieve a win-win situation between Hainan and enterprises, in order to attract more enterprises to invest and build.

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