Guangzhou: Step up development loan support for completed-home sales projects and safe, comfortable, green, and smart "good housing" projects.

Guangzhou Municipal Housing and Urban-Rural Development Bureau, Guangzhou Municipal Planning and Natural Resources Bureau, and the Guangdong Regulatory Bureau of the National Financial Regulatory Administration issued implementation opinions on carrying out the Notice on Improving the Commodity Housing Sales System. For projects under existing-home sales and pre-sale, reasonable financing needs of the projects shall be met in accordance with market-oriented principles, so that the disbursement of development loans matches the project construction cycle. Support for development loans shall be increased for existing-home sales projects and safe, comfortable, green, and smart "good housing" projects. Lending banks shall reasonably determine the disbursement nodes and amounts based on project construction progress, disburse development loans in batches, and the loan funds shall be paid to the accounts of the project company's transaction counterparties through entrusted payment via the fund account opened at the lead bank, and shall be used entirely for project construction.