[Hangzhou issues local implementation opinions on the reform of the commercial housing sales system] On October 15th, the Hangzhou Municipal Housing Security and Housing Administration Bureau, the Municipal Planning Resources Bureau, the Municipal Construction Committee, and the Zhejiang Financial Supervision Bureau jointly issued the "Implementation Opinions on the Implementation of the "Notice on Improving the Commercial Housing Sales System" (Trial)", improve the commercial housing sales system by strengthening the pre-sale management of commercial housing, orderly promoting the sales of existing commercial housing, implementing the host bank system, increasing financing support, optimizing land supply management, supporting project development in phases, and implementing phased completion filing. The "Implementation Opinions" require strengthening the supervision of pre-sale funds for commercial housing. The real estate administrative departments at the municipal and district levels shall perform the duties of supervising the pre-sale funds of commercial housing and undertake the specific work of supervising the pre-sale funds of commercial housing within their jurisdiction. For commercial housing projects that announce the transfer of state-owned construction land use rights after August 28, 2026, if pre-sales are implemented, the purchase funds such as deposits, down payments, personal housing loans, installment or one-time purchase payments, etc. paid by the home buyers should all be deposited into the fund supervision account opened by the agency under the real estate administrative department. Fund supervision will be lifted after the commercial housing project is completed and accepted, and supporting facilities such as water, electricity and water meet the delivery conditions.