Hangzhou: Strengthening Supervision of Pre-sale Funds for Commercial Housing

36Kr reports that Hangzhou has issued local implementation guidelines on the reform of commercial housing sales. The guidelines require enhanced supervision of pre-sale funds for commercial housing. Property administration departments at both municipal and district levels will be responsible for overseeing pre-sale fund supervision within their jurisdictions. For commercial housing projects where notices for the grant of state-owned construction land use rights are published after August 28, 2026, all purchase funds paid by buyers—including deposits, down payments, personal housing loans, and installment or lump-sum payments—must be deposited into a supervised fund account established by an agency under the property administration department. Supervision on these funds will be lifted once the project is completed and accepted, and supporting facilities such as water, electricity, and gas are ready for delivery.