The minimum down payment ratio for purchasing the first commercial housing shall not be less than 30%, and that for purchasing the second one shall not be less than 40%. No commercial housing loans will be granted to a buyer of his or her third one or above. 

Measure 1: Strengthen the management on supply of land for residence. 

The proportion of residential land supply in the newly added state-owned construction land shall be increased, the scale and timing for the use of land for residence shall be reasonably controlled to ensure that priority will be given to the use of land for residence. This year, the supply of residential land shall be increased by more than 10% year on year. The contract on residential land transfer shall be strictly implemented, and meanwhile supervision and inspection on the construction progress of transferred land shall be carried out on a regular basis.  

Measure 2: Improve the mode of land supply for commercial housing. 

In some areas, the mode of “limitation on housing price and competitive bidding price” and “limitation on self-holding and competitive bidding price” is adopted for the transfer of residential land. The so-called limited self-holding project refers to the housing for rental constructed by a real estate developer on the land it acquired. Within the self-holding period, such housing is only allowed for rental but not for market trading. The property right of such housing belongs to the particular real estate developer. 

Measure 3: Accelerate the development of housing rental market 

Various ways shall be taken to raise the sources of housing for rental to meet the demands at different levels. The city government shall set up a state-owned housing leasing company and adopt the centralized construction mode to increase the effective supply of housing for rental. 

Measure 4: Continue to implement price guidance on commercial housing. 

The first application price for pre-sale permit for commercial housing shall not be higher than the price of commercial housing in similar areas. The price of application which is not for the first time for pre-sale permit for commercial housing shall not be higher than the first application price. 

Measure 5: Adjust credit policy for commercial housing. 

The minimum down payment ratio for purchasing the first commercial housing shall not be less than 30%, and the minimum down payment ratio for purchasing two commercial housing shall not be less than 40%. No third or more commercial housing loans will be granted. 

Measure 6: Further standardize the order of real estate market. 

The competent department of real estate, together with those of market supervision and others, shall carry out joint law enforcement inspections from time to time under which such acts as hoarding sales, false bid price, malicious speculation, bid up housing price and illegal pre-sale shall be investigated and punished. 

Measure 7: strengthen guidance on public opinion. 

All news media and network platforms shall accurately interpret the basic facts and policies on real estate market to guide in a correct manner the public opinions and market expectations, create a sound market publicity atmosphere, and jointly promote the stable and healthy development of real estate market. 

Policy Interpretation-Background and Foundation  

The regulation and control of real estate market is related to the national economy and people’s livelihood and affects the overall situation of socioeconomic development. Changchun has long been attaching great importance to market regulation and control. Since listed as one of the 22 pilot cities with long-term mechanisms in particular, Changchun has taken active measures to implement the main responsibility of the city, adjust countermeasures according to local conditions, implement policies in a comprehensive manner, and use financial, tax and other economic and administrative means to maintain the continuity and stability of policies to continuously promote the stable and healthy development of real estate market. 

According to the price index released by the National Bureau of statistics, the commercial housing price index of Changchun City was on an upward trend. To further strictly implement the decision and deployment of the CPC Party Central Committee and the State Council on the regulation and control of real estate market, stabilize land price, house price and expectations, and meanwhile maintain the stable development of the market, Changchun, according to the plan of “one city, one policy”, selected some clauses in the policy package, formulated and issued the regulation and control policy. 

Main Content  

There are seven items in this regulation and control policy. The main content is as follows: 

First, strengthen the management on supply of land for residence. 

The proportion of residential land supply in the newly added state-owned construction land shall be increased, and priority will be given to the use of land for residence. This year, the supply of residential land shall be increased by more than 10% year on year.  

The mode of “limitation on housing price and competitive bidding price” and “limitation on self-holding and competitive bidding price” is adopted in some areas for transfer of residential land. 

Second, adjust credit policy for commercial housing. 

The role of finance and credit regulation shall be brought into play, the down payment ratio of the first and/or the second set(s) of commercial housing shall be increased. No third or more commercial housing loans shall be granted. 

Third, the requirement for a leasing pilot shall be actively implemented. 

The housing supply structure shall be further optimized, different ways of raising sources of housing for rental shall be taken to make up for the shortage of rental and thus meet the demands for residence at different levels. 

Fourth, continue to implement price guidance on commercial housing. 

From declared price to sold price, the stability of commercial housing price shall be ensured. 

Fifth, further standardize the order of real estate market. 

According to the “two at random and one open” requirement, the competent departments of real estate and market supervision and others shall jointly carry out law enforcement inspections to standardize the order of real estate market.