According to monitoring data from the China Index Research Institute, as of November 4, 20 cities including Beijing, Shanghai, Guangzhou, Shenzhen, Wuhan, and Hangzhou had implemented implementation rules after the August 28 New Deal, while other cities such as Nanchang, Mianyang, and Luzhou were seeking comments on the implementation rules. All regions are jointly implementing pre-sale requirements by “dividing old and new and promoting classification”, clarifying rules such as key supervision limits, existing housing sales, host banking systems, and land payment installments. More urban land concession installment balances are paid within 2 years, and guarantee replacement is encouraged to support the phased development and phased completion of projects.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.