The Ministry of Housing and Urban-Rural Development, the Ministry of Natural
Resources and the State Financial Regulatory Administration issued a notice to
improve the commercial housing sales system and introduce a deposit regime for
completed-home sales. For projects selling completed units, once a construction
permit is obtained developers may sign a purchase-deposit contract and legally
collect a small deposit; the contract must specify deposit amount, unit price,
delivery timing and liability for failure to perform. City/county housing and
urban‑rural development departments and housing-fund supervisory bodies will
supervise deposits; deposits must be held in a supervised deposit account at the
project’s lead bank and released when the unit is fit for delivery. If a
developer defaults and cannot deliver on schedule, buyers may terminate the
deposit contract, require return of the deposit and hold the developer liable
for breach. Local authorities should issue model deposit-contract templates.
