Interview with CPPCC National Committee Member and Former Vice Minister of Housing and Urban-Rural Development Jiang Wanrong: Recommending Swift Implementation of the "Residential Sales Management Regulations" and Gradual Promotion of Completed Housing Sales

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

Housing issues concern every family.

On March 5th, the government work report proposed focusing on stabilizing the real estate market. Implement city-specific policies to control growth, reduce inventory, optimize supply, explore multiple channels to activate existing commercial housing stock, and encourage the purchase of existing properties mainly for affordable housing. Deepen reforms of the housing provident fund system. Optimize the supply of affordable housing and accelerate the renovation of dilapidated buildings.

At the same time, promote the orderly construction of safe, comfortable, green, and smart “good houses,” implement quality improvement projects for housing and property management service enhancements. Further leverage the “guaranteed delivery” whitelist system to prevent debt default risks. Deepen the development of new real estate models through foundational systems and supporting policies.

How to 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? With these questions in mind, during the National Two Sessions, the “Daily Economic News” reporter (hereinafter referred to as NBD) interviewed Jiang Wanrong, a member of the 14th National Committee of the Chinese People’s Political Consultative Conference, 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 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—long-term, giving him a deep understanding of the intricacies and issues of the real estate market. After being appointed Vice Minister in 2019, he was responsible for key departments such as housing security and real estate market regulation until his term ended in 2025.

In the interview, Jiang Wanrong shared his views on the proposals he put forward. He straightforwardly stated that, given the market pattern where nearly half of transactions are second-hand homes, the legal regulations for existing home transactions at the national level urgently need improvement. To this end, he recommends that the State Council’s legislative authorities include the “Housing Sales Management Regulations” in the legislative plan and enact them as soon as possible; by improving the sales system for commercial housing, establishing information disclosure and online signing and filing systems, to strengthen the legal foundation for the new real estate development model.

Recommend the prompt enactment of the “Housing Sales Management Regulations”

NBD: This year’s government work report emphasizes advancing 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 to accelerate the establishment of a housing system with multiple providers, multi-channel guarantees, and simultaneous rental and purchase. The Fourth Plenary Session of the 20th Central Committee approved the “Suggestions on Formulating the 14th Five-Year Plan for National Economic and Social Development,” which calls for 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 home transactions will account for nearly 45%. In cities like Beijing and Shanghai, second-hand transactions surpass new home sales, shifting from a traditional new-home-centric growth pattern to a balanced approach with both new and second-hand homes. However, I believe the legal regulations for existing home transactions at the national level are still insufficient.

In the new construction sales 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 project completion and delivery, attracting social concern; others engage in false advertising, fabricating and spreading false information about housing prices, maliciously speculating or colluding to manipulate prices, or deliberately hiding major defects, harming consumers’ right to know, and causing social conflicts.

Currently, the legal framework in real estate 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 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. I suggest the State Council’s legislative authorities include the “Housing Sales Management Regulations” in the legislative plan and enact them promptly.

Gradually promote the sale of existing homes

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

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

First, expand the scope of legislation to meet the legal needs of the stock-upgrade phase. Adapt to new changes in the real estate transaction market by including existing home transactions within the scope of the regulations, and simultaneously improve the systems for existing and new home transactions, establishing a comprehensive legal framework that balances both.

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

Third, establish a real-name transaction system to ensure transaction authenticity. Sellers, buyers, real estate agents, and their practitioners involved in housing sales activities—such as posting information, signing contracts, and online registration—must use real names and provide valid identification details.

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

Fifth, establish an online signing and filing system to strengthen government oversight. Build a unified housing information platform, create a comprehensive property database, and improve functions such as basic housing information management, online signing, transaction fund supervision, subject verification, information disclosure, and statistical monitoring. Sales contracts for new and existing homes, facilitated by developers or brokers, should be signed online on this platform. Use model contracts for online signing, drafted jointly by housing authorities and market supervision departments.

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

Seventh, establish a credit management system to strengthen industry integrity. Build a joint incentive and disincentive mechanism for trustworthiness in the real estate sector, linking the credit records of industry entities and personnel with sales, financing, credit, and reporting systems, and publicly disclose credit information in a timely manner.

Promote the entire chain of “good houses” through five aspects

NBD: Building “good houses” has been included in the government work report for the second consecutive year. Over the past year, what key work has the Ministry of Housing and Urban-Rural Development carried out regarding this?

Jiang Wanrong: To meet the new expectations of the public for “good houses,” the Ministry has adhered to multi-party collaboration among government, enterprises, and society, focusing on five aspects—standards, design, materials, construction, and operation—to promote the entire chain of “good house” development.

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

Second, in design. The Ministry continued hosting the national “Good House” design competition, selecting over 80 award-winning designs from nearly 2,000 entries, including new homes and renovations of old ones. The aim is to guide designers and students to create innovative, well-designed “good houses” tailored to diverse living needs, ensuring every square meter is used efficiently and worth its value.

Third, in materials. Accelerate the research and development of new building materials through “listening to bids and appointing experts,” promoting over 50 types of innovative materials to enhance insulation, waterproofing, environmental friendliness, and other properties. Cultivate green building growth points and explore applications of internet, sensors, and other new technologies and devices.

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

Additionally, focus on operation and maintenance. Speed up establishing safety inspection, safety management funds, and insurance systems for housing safety, strengthening lifecycle safety guarantees. Implement property service quality improvement initiatives, explore “property + lifestyle” service models, and promote “property services into homes,” addressing key concerns of residents and creating warmer, happier communities.

Advance AI, IoT, and other technologies into homes and buildings

NBD: The government work report emphasizes orderly promotion of safe, comfortable, green, and smart “good houses.” What areas do you think should be prioritized?

Jiang Wanrong: Currently, the development of “good houses” has gained momentum and is increasingly recognized by society. Moving forward, I believe we should continue to intensify efforts and promote the construction of high-quality residences systematically.

First, implement housing quality improvement projects. Encourage local governments to effectively implement the “Opinions on Improving Housing Quality,” focusing on standards, design, materials, construction, and operation, and establish supporting systems and mechanisms.

Develop and release the “Guidelines for Building “Good Houses,”” promote the achievements of the “Good House” design competition, and guide practical implementation. This includes building “good houses” for new developments and gradually transforming old houses into “good houses” through scientific methods, to meet diverse housing needs with high-quality supply.

Second, strengthen technological innovation 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 a comprehensive database of technological achievements in housing and urban-rural development, and release practical, user-friendly “good house” technologies to support affordable housing.

Third, upgrade 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, and more. Promote real estate and construction companies to transform into “good house” integrators, innovating product systems and service models.

Leverage the broad application scenarios of housing technology, advancing AI, IoT, and other new technologies and products into homes and buildings, achieving commercialization, and making housing a key platform for technological integration.