The three ministries issued a notice to improve the commodity housing sales system and said they will optimize presale management for existing projects. Commodity housing projects that obtained a construction planning permit before the notice’s effective date and are conducting presales will continue to follow existing presale conditions and presale‑fund supervision rules. Authorities should set supervision limits reasonably, optimize the use of presale funds, enforce strict oversight of presale

The CSRC issued guidance on capital-market support for a new China property market development model and said it will implement the General Office of the CPC Central Committee and General Office of the State Council’s opinion to strictly combat securities violations. Regulators will prevent and crack down on fraudulent issuance, false information disclosure, and misappropriation of raised funds by real-estate securities issuers; increase penalties for systemic or organized fraud; and step up enforcement against third-party collusion and intermediary misconduct by sponsors, underwriters and accounting firms. The CSRC said it will apply a zero-tolerance approach to financial fraud and punish cases that are egregious, have major market impact or create significant risk strictly in accordance with law.

PBOC: mortgage tenors for purchases of commercial property generally limited to 10 years, with a maximum of 15 years.