Shanxi Jinzhong: Efforts to boost housing consumption, delivery of subsidies, down payment reduction and loan amount increase will be made

On July 25, the Housing and Urban-Rural Development Bureau of Jinzhong City, Shanxi Province issued the Notice on Postponing the Implementation of Jinzhong's 25 Articles on Promoting a Virtuous Circle and Healthy Development of the Real Estate Industry, and the implementation date of the notice was postponed to May 31, 2024. It proposes to resolve the risk of enterprise capital turnover, support financial institutions to carry out M&A loans for real estate projects in a steady and orderly manner in accordance with the principles of compliance with laws and regulations, controllable risks, and sustainable business, and focus on supporting high-quality real estate development companies to merge and acquire high-quality projects of enterprises in danger and difficulties. In order to boost consumer demand, Jinzhong city proposed measures such as house purchase subsidy policy and deed tax subsidy policy. In order to optimize the market supply, the city proposed measures to support the "reform of commercial housing into housing" and reduce the construction of public rental housing.