Shanghai issued local implementation rules for commodity housing sales reform,
mandating a sponsor-bank system. From Aug 28, 2026, projects with newly signed
loan contracts must adopt the sponsor-bank regime: if a single bank provides the
development loan that bank is the sponsor; for syndicated loans the syndicate
lead bank is the sponsor. Real estate developers must open project fund accounts
at the sponsor bank; during the project lifecycle all project-related
funds—including development loans, developers’ own capital and proceeds from
sales of completed homes—must be managed through that account. City and district
real estate transaction centers will serve as housing-fund supervisors and carry
out funds supervision as prescribed.
