Real Estate Regulation · Full chronicle and history

In a livestream, Zhai Shanying combined scientific logic with the case of the renewal of the lease for the K11 building of Shanghai New World Group to analyze the enormous lease renewal fees and the economic crisis facing China's commercial real estate.

The Ministry of Finance, the central bank, and the National Financial Regulatory Administration jointly announced that starting October 1, eligible first-home mortgages will receive a fiscal interest subsidy of 1 percentage point per annum.

On September 29, the Ministry of Finance, the central bank, and the National Financial Regulatory Administration jointly announced that starting October 1, eligible first-home mortgages will receive fiscal interest subsidies, with an implementation period provisionally set at one year — the first time the central fiscal budget has subsidized individual housing mortgages. The subsidy applies to newly purchased first-home loans for properties with an area of no more than 120 square meters and a total price of no more than 1.5 million yuan, providing an annualized interest subsidy of 1 percentage point on loans of up to 1 million yuan, for a maximum of five years.

Shanghai recently introduced new property market policies again; Hu Liren believes they are essentially stability maintenance measures and are unlikely to change the downward trend in real estate.

On September 3, 2026, media reported that several commercial banks in Shanghai are implementing new mortgage rules. Because they enforce the restriction that age plus loan term must not exceed 75 years, borrowers must be under 35 to take out the full newly introduced 40-year mortgage.

The central bank has introduced a new policy extending the term of personal housing loans from 30 years to 40 years, and related media have promoted it as easing the monthly repayment burden on homebuyers.

China has introduced a new real estate policy that allows 30-year mortgages to be extended to 40 years, correspondingly lowering monthly payments, and permitting a gap period of several months.

On August 28, 2026, the People’s Bank of China and the National Financial Regulatory Administration jointly issued new real estate credit policy rules, officially extending the maximum term of personal housing loans from 30 years to 40 years, sparking widespread public debate.

On August 21, 2026, the Ministry of Finance released the national fiscal revenue and expenditure situation for January to July. Local governments' income from the transfer of state-owned land use rights was 1.1731 trillion yuan, down 30.8% year-on-year.

Shanghai has introduced the “Eight Shanghai Measures,” a package of optimized real estate control policies; Hu Liren believes this is a trap to drain the savings of ordinary people and plunge them deep into mortgage debt.

The State Council has introduced new measures for housing provident fund management, relaxing policies to encourage ordinary people to take out loans to buy homes, which critics say is a disguised way of harvesting their savings.

The Shanghai Municipal Administration of Planning and Natural Resources issued guidelines for the renewal of land use rights for industrial and commercial projects, stipulating that renewal prices must not be lower than 70% of the current benchmark land price, sparking public concern over land property rights and the mechanism of fiscal revenue collection.

In 2026, Shanghai, Guangzhou and Jiangxi announced the implementation of administrative measures or work guidance for the renewal of commercial land use rights, stipulating that the renewal of commercial property upon expiration requires payment of no less than 70% of the benchmark floor land price on the expiration date, or that the land be reclaimed on the grounds of the public interest; more than ten provinces have already completed formulation and are preparing to implement them.

Shanghai's Bureau of Planning and Natural Resources released the 2026 base floor land prices. For commercial land, grades 1 through 4 are 36,670 yuan, 29,790 yuan, 21,030 yuan, and 16,780 yuan per square meter respectively; for residential land, grades 1 through 4 are 52,600 yuan, 44,800 yuan, 37,200 yuan, and 29,140 yuan respectively.

China introduced a policy to lower the mortgage down payment ratio to 15% in order to boost the property market.

On August 20, 2020, the Ministry of Housing and Urban-Rural Development and the People's Bank of China held a symposium for key real estate enterprises, proposing the "three red lines" to restrict the growth of interest-bearing liabilities of real estate companies based on the asset-liability ratio excluding advance receipts, the net gearing ratio, and the cash-to-short-term debt ratio.

In 2010, the central government introduced the 'Ten National Measures' and supply restriction orders to further tighten control over housing prices, yet it still failed to reverse the trend of prices rising despite the regulations.

In 2006, the central government issued the 'Six National Measures' in an attempt to stabilize housing prices, but it faced local resistance and achieved poor results.

In 2005, the central government issued the 'Eight Measures' to control housing prices, but due to a lack of control over local governments, the results were concerning.

The central bank specified that the maximum term for personal housing loans issued by commercial banks with credit funds will be extended from 20 years to 30 years.

In the early stage of China's real estate industry, the term of personal housing mortgage loans was stipulated to be no longer than 20 years at most.

In the 1990s, Hainan's land speculation activities were rectified, and Zhu Rongji was credited with halting related land speculation.