China Overhauls Real Estate Credit Rules in Shift Away From Presale Model

China’s financial regulators introduced sweeping real estate financing rules on Friday, extending the maximum mortgage term to 40 years and delaying loan issuance for presale homes until construction is completed.

The guidelines, jointly released by the People's Bank of China and the National Financial Regulatory Administration, are designed to support a nationwide shift away from the traditional presale model toward a completed-home sales system.