312 cities in 31 provinces have established urban real estate financing coordination mechanisms. As of the end of February, commercial banks had approved loans exceeding 200 billion yuan.
"Real estate has strong regional characteristics and requires 'one city, one policy' and 'city-specific policies,'" Yu Xiaofen, dean of the China Housing and Real Estate Research Institute at Zhejiang University of Technology, said. "Precise support" is a highlight of "Notice", he said. Zeng Gang, director of the Shanghai Finance and Development Laboratory, said it will help correct excessive risk aversion of some financial institutions.