Fujian further strengthens the supervision of pre-sale funds for real estate projects

[Fujian further strengthens supervision of pre-sale funds for real estate projects] the Fujian Provincial Department of Housing and Urban-Rural Development recently issued a notice on further strengthening the supervision of pre-sale funds for real estate projects. The circular clearly points out that it is necessary to strengthen the supervision of pre-sale funds from four aspects, namely, implementing the management of special accounts, standardizing the payment and deposit of funds, improving use management, and strengthening risk prevention and control. We will comprehensively investigate the supervision and implementation of pre-sale funds for commercial housing projects under construction and strictly prevent enterprises from illegally using pre-sale funds, which will lead to new project risks. Real estate development enterprises shall not require the purchase money to be deposited into an unsupervised account, and it is strictly forbidden to pre-sell funds for "cardiopulmonary bypass".