Group 1 - The China Securities Regulatory Commission (CSRC) held an expanded meeting to promote the establishment of a normalized market stabilization mechanism, aiming to manage risks in bond defaults and private equity funds [1] - In June 2025, A-share new accounts reached 1.65 million, a year-on-year increase of 53%, significantly surpassing the same period last year. A total of 12.6 million new A-share accounts were opened in the first half of the year [2] - Guangzhou plans to implement a "commercial-to-public loan" policy, which will be activated when the personal housing loan rate is below 75%. Preventive measures will be taken when the individual loan rate reaches 85% or above, and the loan will be suspended when it reaches 90% or above [3] Group 2 - As of the end of June, the price of domestic salt lake potassium chloride products (60% KCl) increased by 100 yuan per ton compared to the previous month, along with shipping costs, approaching the year's high points seen in February and March [4] - From the beginning of 2025 to now, the comprehensive price index of the NAND Flash market has risen by 9.2%, while the DRAM market's comprehensive price index has surged by 47.7%. The DRAM market is expected to reach a historical high in 2025 [5] - Luxshare Precision is planning to issue shares overseas (H-shares) and list on the Hong Kong Stock Exchange. Nanjing Shanglv expects a year-on-year decline in net profit of 67% to 78% for the first half of the year. Kaimeite Gases, which has seen three consecutive trading limits, reported that its current operating conditions are normal with no undisclosed significant matters. Chengbang Co., Ltd., which has seen five consecutive trading limits, noted that its subsidiary, Xinchun Electronics, currently has a small business scale [6]

Core Viewpoint - Guangzhou's new regulation on converting commercial housing loans to public housing loans aims to reduce the interest burden on contributors and promote social consumption [2][10]. Group 1: Implementation of the Regulation - The regulation will be initiated when the personal housing loan rate (individual loan rate) is below 75% [12][13]. - Preventive measures will be taken when the individual loan rate reaches 85% or above, including loan limit control and appointment applications [13]. - The regulation will be suspended when the individual loan rate reaches 90% or above [13]. Group 2: Eligibility and Conditions for Applicants - Borrowers must currently contribute to the housing fund in Guangzhou and have not used housing fund loans nationwide [4][15]. - The original commercial loan must have been disbursed for more than five years and require consent from the original bank to convert to a pure public fund loan [4][15]. - The property must be the borrower's only residence in the city, and the original loan must not have any overdue records in the past 24 months [15]. Group 3: Loan Amount, Term, and Interest Rate - The loan amount cannot exceed 60% of the total purchase price of the property [6][17]. - The total purchase price is determined by the lower of the original purchase price and the re-evaluated price [7][17]. - The loan term will be determined according to the public fund loan policy and cannot exceed the remaining term of the original commercial loan, with a total of no more than 30 years [8][17]. Group 4: Loan Processing and Repayment - The process includes applying to the original commercial bank, submitting required documents, and completing mortgage registration [22]. - Borrowers must use a commercial bank account for repayments and adhere to the repayment schedule as per the housing fund loan contract [22]. Group 5: Fund Management and Risk Control - The loan amount will be managed within the annual housing fund collection and usage plan, with dynamic adjustments based on actual conditions [24]. - If the individual loan rate exceeds 85% for three consecutive months, the monthly loan limit will be reduced [24].

Core Viewpoint - The Guangzhou Housing Provident Fund Management Center has proposed a draft for the implementation of converting commercial housing loans to provident fund loans, aiming to provide more flexible financing options for borrowers in the city [1][2]. Summary by Sections Implementation Measures - Borrowers can apply to convert their outstanding commercial housing loan balance to a provident fund loan when the personal housing loan ratio (individual loan ratio) is below 75%. - If the individual loan ratio reaches 85% or above, control measures may be implemented, including loan limit management and appointment applications. - When the individual loan ratio reaches 90% or above, the conversion will be suspended. The fund management center can take timely control measures based on funding and loan conditions [2]. Application Objects and Conditions - Applicants must currently contribute to the housing provident fund in Guangzhou and have not used any housing provident fund loans nationwide [3]. - The original commercial loan must be for a self-occupied housing property within the city, and the lending bank must be one that handles provident fund loans in Guangzhou [4]. - The original commercial loan must have been disbursed for at least five years, and the original bank must agree to convert it to a pure provident fund loan [5]. - The applicant must be the borrower of the original commercial loan and the property owner, with no other co-owners except for spouses and minor children [6][7]. - The property must have obtained real estate ownership certificates and must not have any other mortgage registrations or legal restrictions [8][9]. - The property must be the only housing for the applicant's family in the city, and there should be no overdue records in the past 24 months for the original commercial loan [10]. Loan Amount, Term, and Interest Rate - The loan amount for the conversion will be determined according to the current policies of the Guangzhou provident fund and cannot exceed the difference between the original commercial loan balance and the principal due in the next three months, capped at 60% of the total purchase price [10][11]. - If the converted loan amount is insufficient to fully repay the original commercial loan, the borrower must make up the difference. The loan term will be determined according to the current policies and cannot exceed the remaining term of the original commercial loan, with a total repayment period not exceeding 30 years [11]. - The interest rate for the converted loan will follow the rates published by the People's Bank of China for provident fund loans, with adjustments made annually on January 1st based on any changes in the interest rate [11].

广州拟出"商转公贷款"政策 个贷率低于75%可启动"商转公" 智通财经7月2日电，广州住房公积金管理中心公开征求《广州商业性个人住房贷款转住房公积金个人住 房贷款实施办法（暂行）》（征求意见稿）意见的公告。实施办法提出，缴存人申请将其在广州市住房 公积金贷款承办银行尚未结清的商业性个人住房贷款余额，当住房公积金个人住房贷款率低于75%时启 动商转公贷款；当个贷率达到85%及以上时可采取防控措施，包括但不限于实行商转公贷款额度管控、 预约申请等措施；当个贷率达到90%及以上时暂停。本办法实施过程中，广州住房公积金管理中心可根 据资金和贷款情况及时采取防控措施。 ...

金十数据7月2日讯，广州住房公积金管理中心发布关于公开征求《广州商业性个人住房贷款转住房公积 金 个人住房贷款实施办法（暂行）》（征求意见稿）意见的公告。根据征求意见稿，当住房公积金个 人住房贷款率低于75%时启动商转公贷款；当个贷率达到85%及以上时可采取防控措施，包括但不限于 实行商转公贷款额度管控、预约申请等措施；当个贷率达到90%及以上时暂停。征求意见稿还提及申请 商转公贷款时，原商业贷款已放款5年以上且已获得原商业贷款银行同意转为纯公积金贷款。 广州"商转公"新规征求意见：放款5年以上商贷可转为纯公积金贷款 ...