Shanghai announced new measures on Sept 28 to better coordinate pre-sale management and advance the implementation of home sales after completion, effective immediately, underscoring the city's push for high-quality property market development.

Tailored to Shanghai's specific conditions, the new policy aligns with the central government's stance on progressively advancing reform of the commercial housing sales system and promoting a new pattern for real estate development, according to the notification issued on Sept 28.

The notification is jointly issued by the Shanghai Municipal Commission of Housing and Urban-Rural Development, the Shanghai Municipal Bureau of Housing Management, the Shanghai Municipal Bureau of Planning and Natural Resources, and the Shanghai housing provident fund management center.

The notification specified measures in six sectors, including strengthening pre-sale management, promoting home sales after completion, increasing financial support, optimizing land supply management, and ensuring quality supervision and market regulation.

Source: China Daily website