On Oct. 15 Shenzhen and Hangzhou issued local rules advancing the Aug. 28
housing policy. Measures include tighter presale controls, promotion of sales of
completed (ready‑built) homes, adoption of a lead‑bank (main bank) escrow system
and adjustments to land supply. Beijing, Shanghai, Guangzhou and Shenzhen now
all have detailed implementation rules, marking a full local rollout of
commodity‑housing sales reform.
