[Introduction]: on December 19, 2018, Shanghai Municipal Housing and Urban-Rural Construction Committee read the opinions on improving the sales management of e-commerce service real estate projects.

Interpretation of Shanghai Housing and Urban-Rural Construction Committee’s opinions on improving the sales management of e-commerce service real estate projects

Opinions on Improving the sales management of e-commerce service real estate projects (No. 2430 [2018] of Sui Jian real estate) are implemented as follows:

I. March 30, 2017 (notice of the General Office of Shanghai municipal people’s government on further strengthening the regulation and control of the real estate market, issued by Sui Fu Office letter [2017] No. 65) after the land transfer transaction (subject to the signing of the land grant contract, the confirmation of the transaction or the announcement to confirm the land transfer transaction date), the sales object of e-commerce service property shall be the legal entity.

II. The real estate project of the land transfer transaction before March 30, 2017 (including that day) (subject to the signing of the land grant contract, the confirmation of the transaction or the confirmation of the land transfer transaction date by the announcement), its e-commerce service property is no longer limited to the sales target, and individuals can only transfer it again after they have obtained a real estate certificate for purchasing e-commerce service property for 2 years.

III. Those who have signed subscription books or purchase contracts before 24:00 on December 19, 2018 and have completed the online signing of purchase contracts shall be implemented according to the original policy. The online signing of the house purchase contract has not been completed before 24:00 on December 19, 2018, but the subscription book or house purchase contract has been signed and the house payment (including deposit, down payment or part of the house payment) can be provided. The original bank accounting voucher or tax payment certificate shall still be implemented in accordance with the original policy.

Next, the urban housing and construction department will jointly strengthen the sales supervisor of e-commerce service real estate projects, further standardize the market order, and create conditions for maintaining stable market operation and comprehensively optimizing the business environment.

Shanghai Housing and Urban-Rural Construction Committee

December 19, 2018