Shenzhen issued implementing opinions to enforce the Notice on improving the
commodity housing sales system. For on-sale projects that have obtained a
residential building main-structure construction permit, developers—after
assessing delivery and performance risk—may sign deposit contracts with buyers;
deposits should generally not exceed 3% of the total purchase price. Deposit
contracts must specify deposit amount, housing price, delivery date and
liability for failure to perform. If a developer breaches and cannot deliver on
time, the buyer may terminate the deposit contract; the developer must return
the deposit and bear legal liability.
