Interview with National Committee Member and Former Vice Minister of Housing and Urban-Rural Development Jiang Wanrong: Recommends Expediting the Introduction of the "Housing Sales Management Regulations," Gradually Promoting Pre-completion Sales, and Raising the Threshold for Commercial Housing Pre-sales

Everyday Economic News Reporter | Li Biao Zhang Rui Everyday Economic News Editor | Dong Xing Sheng

Housing issues concern every family.

On March 5th, the highly anticipated “Government Work Report” emphasized stabilizing the real estate market. Policies include controlling new supply through city-specific measures, reducing inventory, optimizing supply, exploring multiple channels to activate existing commercial housing, and encouraging the purchase of existing properties mainly for affordable housing. Further reform of the housing provident fund system, optimizing affordable housing supply, and accelerating the renovation of dilapidated housing are also highlighted.

At the same time, orderly promotion of the construction of safe, comfortable, green, and smart “good houses” is underway, including implementing quality improvement projects for housing and enhancing property management services. The “guaranteed delivery” whitelist system will be further utilized to prevent debt default risks. Additionally, efforts are being made to deepen the foundational systems and supporting policies for new real estate development models.

How should we understand the new development model for real estate? What are its prominent features? What suggestions are there for building the foundational systems and supporting policies for this new model? To explore these questions, during the National Two Sessions, a reporter from Daily Economic News (hereinafter NBD) interviewed Jiang Wanrong, a member of the 14th National Committee of the Chinese People’s Political Consultative Conference and former member of the Party Leadership Group and Vice Minister of the Ministry of Housing and Urban-Rural Development.

Since joining the former Ministry of Construction in 1988, Jiang Wanrong has dedicated nearly 40 years to the housing and urban-rural development system. He has served as Director of the Housing and Real Estate Department, Deputy Director of the Residential and Real Estate Department, and after the establishment of the Ministry of Housing and Urban-Rural Development in 2008, he led the core business department—the Real Estate Market Regulation Department—giving him deep insight into the intricacies and issues of the real estate market. In 2019, he was appointed Vice Minister, overseeing key areas such as housing security and real estate market regulation, until his departure in 2025.

In the interview, Jiang shared his views on the proposals he put forward. He pointed out that, given the market share of second-hand housing transactions approaching half, the legal regulations on existing property transactions at the national level urgently need improvement. He recommended that the State Council’s legislative authorities include the “Housing Sales Management Regulations” in the legislative plan and expedite their enactment; by improving the system for the sale of commercial housing, establishing information disclosure and online signing and registration systems, to strengthen the legal foundation for the “new development model” of real estate.

Recommend including the “Housing Sales Management Regulations” in the legislative plan for prompt enactment

NBD: This year’s report mentions the deepening of the foundational systems and supporting policies for the new real estate development model. Could you share your understanding of this new model, especially regarding sales systems?

Jiang Wanrong: The 20th Party Congress proposed accelerating the establishment of a housing system with multiple providers, multiple channels of保障, and a combination of rental and purchase. The Fourth Plenary Session of the 20th Central Committee approved the “Suggestions for the 15th Five-Year Plan for National Economic and Social Development,” which emphasizes speeding up the construction of a new real estate development model and improving the foundational systems for development, financing, and sales of commercial housing.

Currently, China’s housing supply and demand are undergoing new changes. By 2025, second-hand housing transactions will account for nearly 45%, with cities like Beijing and Shanghai seeing second-hand sales surpass new housing transactions. The traditional pattern of mainly selling new homes is shifting toward a balanced approach of new and second-hand housing. However, I believe the legal regulations concerning existing housing transactions at the national level are still insufficient.

In the new construction sector, issues such as inadequate fund supervision, information asymmetry, irregular transactions, and delivery risks are prominent. Some developers illegally divert transaction funds, leading to delays in completing and delivering projects, which attracts social concern; others engage in false advertising, fabricating or spreading false information about housing prices, maliciously manipulating or colluding to inflate prices, or deliberately hiding major defects, damaging consumers’ right to know and causing social conflicts.

Currently, the legal framework mainly includes the Urban Real Estate Management Law, the “Regulations on Urban Real Estate Development and Operation,” the “Housing Leasing Regulations,” and the “Property Management Regulations.” However, specific regulations on large-scale housing sales are only departmental rules with low authority and insufficient penalties.

In response to reform requirements, in 2017, the Ministry of Housing and Urban-Rural Development drafted the “Housing Leasing and Sales Management Regulations (Draft for Comments)” and solicited public opinions. Based on feedback, the draft was split into the “Housing Leasing Regulations” and the “Housing Sales Management Regulations.” The “Housing Leasing Regulations” have already been enacted, and I recommend that the State Council’s legislative authorities include the “Housing Sales Management Regulations” in the legislative plan for early enactment.

Recommend gradually promoting the sale of existing homes and strictly regulating pre-sale behaviors

NBD: If the “Housing Sales Management Regulations” are enacted promptly, what specific system designs should it focus on to regulate the housing sales market and protect the rights of all parties involved?

Jiang Wanrong: I believe the design should focus on the following aspects:

First, expand the scope of legislation to meet the legal needs of the stock quality improvement phase. Adapt to new market changes by including existing housing transactions within the scope of the regulations, and simultaneously improve the systems for existing and new housing transactions, establishing a comprehensive legal framework that balances both.

Second, improve the system for the sale of commercial housing to regulate market order. Gradually promote the sale of existing homes, perfect the registration system for existing housing sales, raise thresholds for pre-sale of commercial housing, strengthen supervision of pre-sale funds, and ensure that funds within the supervisory limit are used only for project development before delivery, with disbursements based on construction progress.

Third, establish a real-name transaction system to ensure transaction authenticity. Sellers, buyers, real estate agents, and their practitioners involved in housing sales should use real names or business names, along with valid identification numbers, when publishing housing information, entering into sales and brokerage contracts, and registering online.

[Image: Citizens handling house transactions. Source: Daily Economic News reporter Bao Jingjing]

Fourth, establish an information disclosure system to promote transparency. Developers should disclose pre-sale permits, registration information, location, price, size, and mortgage details. Existing property sellers should disclose the property’s condition, ownership status, mortgage status, other rights restrictions, and major factors affecting price. Housing transaction authorities should publicly display sales information, verification data for existing properties, and industry supervision information.

Fifth, establish an online signing and registration system to strengthen government oversight. Build a unified housing source information database, improve functions such as basic information management, online signing, transaction fund supervision, subject verification, information disclosure, and statistical monitoring. Housing sales contracts—whether from developers, brokers, or self-conducted—should be signed online via the management platform. It is recommended to use model contracts for sales, formulated jointly by housing transaction authorities and market supervision departments.

Sixth, establish a housing delivery system to improve quality. Developers should deliver compliant, ready-for-occupancy housing on schedule as per contract. When model homes are used, they should clearly state whether the actual delivered housing matches the model in quality, equipment, and decoration; if not specified, the delivered housing should match the model.

Seventh, establish a credit management system to strengthen industry integrity. Build a joint incentive and punishment mechanism for trustworthiness and dishonesty in the real estate sector, linking the credit records of practitioners with sales, financing, credit reporting, and other systems, and publicly releasing this information in a timely manner.

From five aspects, promote the entire chain of “good houses” construction

NBD: “Good houses” construction has been included in the government work report for the second consecutive year. What work has the Ministry of Housing and Urban-Rural Development mainly carried out over the past year in this regard?

Jiang Wanrong: To meet the new expectations of the people for “good houses,” the Ministry has adhered to multi-party coordination among government, enterprises, and society, focusing on standards, design, materials, construction, and operation & maintenance, to promote a comprehensive “good houses” development.

[Image: Photo by Chen Li, Daily Economic News]

Specifically, first, focus on setting high standards. In March last year, the Ministry issued the mandatory national standard “Residential Project Specifications,” which improved housing quality in 14 aspects, including ceiling height, wall and floor sound insulation, door and bathroom clearance, heating and air conditioning in different climate zones. In December, it issued the “Opinions on Improving Housing Quality,” clarifying development goals and key tasks for “good houses,” strengthening coordination, and increasing efforts.

Second, focus on good design. Last year, the national “Good House” Design Competition was held again, selecting over 80 award-winning designs from nearly 2,000 entries, including new and renovated old houses. The aim is to guide designers and university students to create diverse, innovative “good houses” tailored to various living needs, ensuring every square meter is used efficiently and worth its value.

Third, focus on good materials. Accelerate the research and development of new building materials through “list-based” approaches, promoting over 50 types of innovative materials to enhance insulation, waterproofing, environmental friendliness, etc. Simultaneously, cultivate new growth points in green buildings and explore applications of internet, sensors, and other new technologies and products.

Fourth, focus on good construction. Fully leverage enterprise roles, encouraging key companies to develop “6633” (six no’s, six preventions, three savings, three essentials) and “365” (three uses, six advantages, five supports) construction systems for “good houses.” Promote smart, green, and prefabricated construction methods to continuously improve quality and ensure project standards.

Additionally, focus on good operation & maintenance. Accelerate establishing safety inspection, safety management funds, and housing quality insurance systems to ensure lifecycle safety. Also, implement property service quality improvement actions, explore “property + lifestyle” service models, and promote “property services into households,” addressing key concerns of residents and creating warmer, happier homes.

Promote the integration of AI, IoT, and other new technologies and products into homes and buildings

NBD: The report mentions orderly promotion of safe, comfortable, green, and smart “good houses.” What areas should the Ministry of Housing and Urban-Rural Development focus on?

Jiang Wanrong: Currently, the construction of “good houses” has gained momentum and become a societal consensus. Moving forward, I believe the Ministry should continue to strengthen efforts, promoting the orderly development of “good houses” to provide high-quality living spaces for the people.

Specifically, first, implement housing quality improvement projects. Guide local governments to effectively implement the “Opinions on Improving Housing Quality,” focusing on standards, design, materials, construction, and operation & maintenance, establishing supporting systems and mechanisms. Develop and release a “Guide to Building Good Houses,” promote the achievements of the “Good House” design competition, and use scientific methods to gradually transform old houses into “good houses,” ensuring high-quality supply to meet diverse housing needs.

Second, strengthen technological R&D for “good houses.” Deploy and implement a series of technological projects to overcome key technical challenges in improving housing quality, creating future-oriented “good house” projects. Establish and improve a technological成果库 in the housing sector, compile and release practical and innovative technologies for “good houses,” and push more useful innovations into engineering practice to benefit the public.

Third, promote upgrading of the housing industry chain. Use “good house” construction as a new growth driver for industry transformation. Select regions with a solid foundation to develop industry clusters covering building materials, decoration, furniture, appliances, etc., and encourage real estate developers and construction companies to transition into “good house” integrators, innovating product systems and service models. Leverage the broad application scenarios of housing科技, promoting AI, IoT, and other new technologies and products into homes and buildings, achieving commercialization, and making housing a key platform for technological integration.