Earlier, on August 28, the Ministry of Housing, Urban-Rural Development, the Ministry of Natural Resources, and the General Administration of Financial Supervision jointly issued the “Notice on Improving the Commercial Housing Sales System”, which deploys that all regions should vigorously and orderly implement existing commercial housing sales, achieve “what you see is what you get”, reduce commercial housing delivery disputes, fundamentally prevent delivery risks, safeguard the legitimate rights and interests of buyers, and accelerate the construction of a new model for real estate development. After the implementation of the “Notice”, Beijing, Shanghai, and Guangzhou successively issued supporting implementation opinions on September 24, September 28, and September 30. Judging from market performance, the market picked up steadily after the rules were implemented. Industry insiders pointed out that rules such as capping pre-sales, completion loans, and closed-loop supervision of the entire process of capital have changed the financing logic of housing enterprises from subject credit orientation to project cash flow orientation, upgraded delivery guarantees from corporate promises to institutional restrictions, and resolved the delivery concerns of buyers at the institutional level. During the National Day holiday this year, according to online registration data monitored by the China Index Research Institute, 551,000 square meters of newly built homes were sold in 25 key cities from October 1 to 7. Compared with last year's National Day holiday, the average daily turnover rose 33.8% year on year.

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