[Two departments: The "Opinions" extend the period of personal housing loans from a maximum of 30 years to a maximum of 40 years, giving both borrowers and lenders greater flexibility] On August 28, the People's Bank of China and the State Financial Supervision and Administration Bureau jointly issued the "About Reform and Improvement of Real Estate Credit Management" on the 28th. "Opinions on Promoting Accelerating the Construction of a New Model of Real Estate Development". In order to adapt to the needs of economic and social development, the "Opinions" extend the period of personal housing loans from a maximum of 30 years to a maximum of 40 years, giving both borrowers and lenders greater flexibility. The specific period is determined by the home buyer through negotiation with the commercial bank.