Guangzhou introduces new policy for commercial properties to be converted into public loans.

On August 20th, the Guangzhou Housing Fund Management Center issued a notice regarding the implementation of the method for converting commercial individual housing loans in Guangzhou to individual housing loans with housing provident fund. The notice mentioned that when the individual housing loan rate of the housing provident fund is less than 75%, the commercial to public loan will be activated; when the individual loan rate reaches 85% or more, preventive measures can be taken, including but not limited to implementing control measures on the amount of commercial to public loans and appointment applications; when the individual loan rate reaches 90% or more, it will be suspended. During the implementation of this method, the Guangzhou Housing Fund Management Center can timely take preventive measures based on fund and loan situations.