The measures aim to shift China’s vast property sector away from a presales model, as Beijing strives to stabilise market downturn.

China shifts from pre-sale to completed-home sales model, with finished properties now making up 32.5% of transactions, up from 10.4% in 2021.

Chinese regulators Friday unveiled a broad package of measures to ease property financing, as the housing downturn continues to weigh on economic growth.

Mortgages would be issued only when projects are completed under new rules