Guangzhou housing and planning authorities, together with the Guangdong bureau
of the National Financial Regulatory Administration, issued implementation
opinions to enforce presale fund supervision. The Guangzhou Housing Transaction
Supervision Center will act as the housing-funds regulator. All buyer
downpayments and personal housing-loan proceeds must be deposited into presale
fund supervision accounts. Developers must sign sales contracts and complete
online filing; contracts must specify buyers’ funds be placed in the supervised
account. After project completion acceptance, utilities and residential
public-service facilities meet handover conditions, the regulator will retain a
specified amount and then lift supervision; following first-property
registration the presale supervision account will be closed and any remaining
balance transferred to the developer’s account at its lead bank.
