The People's Bank of China and the China General Administration of Financial Supervision and Administration issued a notice on “Opinions on Reforming and Improving Real Estate Credit Management to Accelerate the Construction of a New Model of Real Estate Development”: Housing rental development loans refer to loans issued by banking financial institutions to real estate development enterprises, industrial parks, rural collective economic organizations, enterprises and institutions that comply with the law for the construction of rental housing. The loan period for housing rental development and construction is generally 3 years, and the maximum period is no more than 5 years.

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