《办法》规定，在广州市开户缴纳住房公积金满60个月及以上，没有使用过住房公积金贷款，目前在广 州有唯一住房且已在商业银行支付贷款3年以上，并满足其他办理条件的，可以与原商业银行协商办 理"商转公"。 《办法》提出，可贷额度根据房屋购买价格与评估价两者中较低者的70%计算，结合商贷余额等综合因 素确定；可贷款期限根据原商业贷款剩余期限及与商贷已还年限合计不超过30年等确定。经审批通过后 的贷款利率，执行住房公积金贷款利率。 8月21日，广州住房公积金管理中心发布的《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）的通知》（下称《办法》）正式开始实施。这也是继深圳之后，又一个加入"商转公"行列 的一线城市。 "要跳出房地产的视角看待此类政策，该政策通过降低房贷成本，有效释放社会消费潜力。购房者节省 下的资金可用于其他消费领域，从而刺激内需增长、促进经济循环，是提振内需的一项重要政策。"他 说。 据悉，自2023年开始部分城市松绑"商转公"政策限制以来，截至目前，已有近20个城市支持或优化该政 策，大多数为二三线城市。 （文章来源：第一财经） 同时，《办法》还设置了动态调节机制，即当个贷率低于75% ...

为进一步发挥住房公积金支持保障基本住房刚性需求的作用，切实减轻购房家庭住房贷款利息 负担，降低购房成本，释放社会消费潜力，提振消费信心，增强群众获得感，广州市于2025年 8月21日开始实施《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）》 申请"商转公"只需"一站式办理"，申请人在原商贷的住房公积金贷款受托银行就可完成申请， 无需到住房公积金管理中心办理。 "商转公"政策的出台，拓宽了住房公积金受益范围，助力刚性住房需求，切实减少缴存人家庭 偿还自住住房的贷款利息支出，对增加可支配收入，释放社会消费潜力，助力广州经济社会发 展具有积极作用。 这既是对民生需求的回应，也是激活市场的积极举措，将进一步减轻缴存人的购房负担，助力 更多家庭实现安居梦想。 来源丨 南方日报 编辑丨江佩 佩 实习生林芷仪 楼市重要信号，多地已出手 楼市，一个重大信号 SFC 21君荐读 2 智能 悦 读 · 权 威 . o n 扫码点击下载 （以下简称《办法》）。 《办法》规定在广州市开户缴纳住房公积金满60个月及以上，没有使用过住房公积金贷款，目 前在广州唯一住房且已在商业银行支付贷款3年以上的，并满足其他办理条件的 ...

Core Viewpoint - The expansion of the "commercial to public" (商转公) loan policy aims to alleviate the financial burden on homebuyers by allowing them to convert commercial housing loans into housing provident fund loans, thus reducing interest costs and promoting social consumption [1][2]. Group 1: Policy Implementation and Impact - The "商转公" policy has been implemented in multiple cities, with significant benefits reported. For instance, in Zhengzhou, as of July 9, 2023, the housing provident fund management center issued a total of 16.872 billion yuan in "商转公" loans, benefiting 27,893 families, resulting in an estimated interest savings of approximately 1.4 billion yuan for applicants [1]. - The policy is seen as a crucial tool for local governments to support housing consumption, especially as the focus shifts towards promoting consumer spending and reducing costs in the housing sector [1]. Group 2: Policy Optimization and Expansion - Recent optimizations to the "商转公" policy have been made to simplify the application process. For example, Zhengzhou reduced the required documentation for the "先还再贷" model from 10 items to just one ID card, and for the "直还" model from 11 items to 3 [2]. - Other cities, such as Shenyang, have expanded the eligibility criteria for the "商转公" loans to include flexible employment contributors, out-of-town contributors, and active military personnel, allowing them to convert commercial loans that have been repaid for at least five years [2]. Group 3: Future Prospects - The "商转公" business is expected to expand to more regions, with several areas planning to issue related documents to facilitate its implementation. For instance, Guangzhou is seeking public opinion on its implementation measures, which include conditions for initiating the "商转公" loans [3]. - The Hainan Provincial Housing Provident Fund Management Bureau is also in the process of drafting its management measures for converting commercial loans to public loans, indicating a broader trend towards supporting this policy [3].

Core Viewpoint - The article discusses the recent implementation of the "commercial to public" (商转公) policy in various cities, particularly focusing on Guangzhou, which has become the second first-tier city to adopt this policy after Shenzhen. This policy allows homeowners to convert their higher-rate commercial loans into lower-rate public housing loans, providing significant savings for borrowers [1][3][5]. Group 1: Policy Implementation - Over 20 cities have initiated or optimized the "商转公" policy this year, with Guangzhou's recent announcement marking a significant step in this trend [5]. - The "商转公" policy is characterized by a gradual rollout, with second and third-tier cities leading the way while first-tier cities proceed cautiously due to the complexity of their existing loan structures [3][4]. - The policy aims to alleviate financial burdens on homeowners, especially as commercial loan rates remain high compared to public loan rates [7][8]. Group 2: Market Conditions - The recent acceleration of the "商转公" policy is attributed to a shift in government policy focus from traditional stimulus measures to consumer promotion and cost reduction [6]. - Market conditions have shown signs of weakening, with a decline in second-hand housing transactions and new home sales, prompting local governments to explore the "商转公" policy as a viable tool [6][9]. - The current public loan rates are significantly lower than commercial loan rates, making the conversion beneficial for homeowners [7][8]. Group 3: Eligibility and Restrictions - The "商转公" policy includes specific eligibility criteria, such as the requirement for the original commercial loan to have been repaid for at least five years and the property to be the only residence of the borrower [9][10]. - Cities implementing the policy are monitoring their public loan utilization rates, with measures in place to pause the program if certain thresholds are exceeded [10][12]. - The policy is primarily aimed at first-time homebuyers and young residents who may not have previously qualified for public loans [9][13]. Group 4: Future Prospects - There is a divided opinion among industry experts regarding the potential for more cities to adopt the "商转公" policy, with some citing high public fund utilization rates as a barrier [12][13]. - However, experts also suggest that as many cities maintain healthy public fund reserves, the likelihood of broader adoption remains [13]. - The ongoing shift in housing policy towards supporting reasonable consumer demand is expected to encourage more cities to consider implementing the "商转公" policy [13].

Core Viewpoint - Guangzhou has become the second first-tier city to implement the "commercial to public" (商转公) policy after Shenzhen, allowing homeowners to convert high-interest commercial loans to lower-interest public housing loans [1][2][3] Group 1: Policy Implementation - Over 20 cities have advanced the "commercial to public" policy this year, with Guangzhou's implementation marking a significant step for first-tier cities [2][4] - The "commercial to public" business allows eligible homeowners to switch from higher-rate commercial loans to lower-rate public housing loans, which has been previously implemented in various cities [3][4] - The policy is being optimized, with cities like Hainan and Shenyang updating their application conditions to facilitate the process [4] Group 2: Market Dynamics - The acceleration of the "commercial to public" policy is linked to a shift in government policy focus from traditional stimulus to promoting consumption and reducing costs for residents [5] - Recent market trends show a decline in second-hand housing transactions and new home sales, prompting local governments to explore the "commercial to public" policy as a viable tool [5][9] - The public housing loan interest rates are significantly lower than commercial loan rates, providing financial relief to homeowners [6][8] Group 3: Eligibility and Conditions - The "commercial to public" policy has specific eligibility criteria, including a requirement for the original commercial loan to have been repaid for at least five years and the property to be the only residence of the borrower [8][9] - The policy also includes measures to control the loan issuance based on the public housing loan utilization rate, with thresholds set for when to initiate or pause the program [9][10] Group 4: Future Prospects - There is uncertainty regarding whether more first-tier cities will adopt the "commercial to public" policy, as many have high public housing loan utilization rates, limiting their ability to implement the program [10][11] - Experts suggest that cities with sufficient public housing fund reserves may follow Guangzhou and Shenzhen in adopting the policy, driven by a broader shift towards supporting reasonable consumer demand in housing [11][12]

Core Viewpoint - The "commercial to public" (商转公) policy has been reinitiated in 2023, becoming a significant factor in boosting the real estate market, with nearly 20 cities optimizing this policy to stabilize the housing market by mid-2025 [1] Group 1: Policy Implementation - Cities like Guangzhou and Hainan have recently introduced "商转公" policies, allowing individuals with commercial loans to convert them into public housing loans, thereby reducing interest burdens [2][3] - The policy aims to lower monthly mortgage costs by switching from commercial bank loans to lower-interest public housing loans, which can save borrowers a considerable amount in interest payments [2] - Over 30 cities nationwide have implemented "商转公," indicating a stronger policy push to reduce housing loan costs [2] Group 2: Market Response - Various cities have introduced a combination of policies to stabilize the real estate market, including optimizing purchase restrictions and increasing housing subsidies [4] - Wuhan's "汉九条" policy has led to a significant increase in housing transactions, with a 64.8% month-on-month growth in sales area and a 57.6% year-on-year increase in new housing transactions [4] - The overall real estate market is showing signs of stability, with both new and second-hand housing transactions increasing, and second-hand transactions surpassing new ones in several provinces [5] Group 3: Future Directions - Authorities emphasize the need for tailored policies to enhance the effectiveness of real estate regulations, focusing on building safe, comfortable, and sustainable housing to meet public expectations [6]

Core Viewpoint - The article discusses the implementation of the "commercial loan to provident fund loan" policy in Guangzhou, aimed at reducing the financial burden on homebuyers and promoting consumption in the housing market [2][4]. Group 1: Policy Implementation - On July 2, Guangzhou Housing Provident Fund Management Center announced a draft for public consultation regarding the conversion of commercial housing loans to provident fund loans, targeting homeowners with commercial loans that have been disbursed for over five years [2]. - This policy is a response to the high demand for lower mortgage rates among homebuyers and follows similar measures already implemented in Shenzhen [2][4]. - The draft outlines specific eligibility criteria for applicants, including having a single property in Guangzhou, no overdue payments in the past 24 months, and a minimum of 60 months of provident fund contributions [5][6]. Group 2: Market Context - Over 30 cities across the country have initiated similar "commercial loan to provident fund loan" policies, with notable cities like Chengdu and Chongqing also participating, while major cities like Beijing, Shanghai, and Hangzhou have yet to adopt such measures [2][8]. - The implementation of this policy in Guangzhou is supported by a strong surplus in the provident fund, with the annual interest income reaching 4.472 billion yuan in 2025, an increase of 310 million yuan from 2024 [2][9]. Group 3: Economic Implications - The shift towards "commercial loan to provident fund loan" policies reflects a broader trend in housing policy, moving from traditional stimulus measures to strategies aimed at promoting consumption and reducing costs for citizens [5][6]. - The article highlights that the target demographic for this policy primarily consists of young homebuyers or new residents who previously faced barriers to accessing provident fund loans due to market conditions or procedural complexities [6][9]. Group 4: Comparison with Other Cities - The article notes that while Guangzhou and Shenzhen have adopted the policy, other major cities like Beijing and Shanghai maintain a conservative stance due to their high utilization rates of the provident fund, which limits the feasibility of implementing similar measures [10][11]. - In contrast, Beijing's provident fund total reached approximately 2.99 trillion yuan by the end of 2024, with a significant portion being withdrawn by contributors, indicating a high demand for funds that may not support the introduction of the "commercial loan to provident fund loan" policy [10][11].

Core Viewpoint - The introduction of the "commercial to public" (商转公) policy in Guangzhou aims to allow individuals to convert their outstanding commercial housing loans into housing provident fund loans, which is significant given the current housing market dynamics [1][2]. Group 1: Policy Significance - The "commercial to public" policy is expected to lower housing consumption costs by leveraging the advantages of provident fund loans, which have interest rates 1-1.5 percentage points lower than commercial loans [2]. - The policy is designed to support reasonable consumption by allowing only self-occupied and unique housing for applicants, thereby stabilizing demand and boosting market sentiment [2][3]. Group 2: Application Conditions - Applicants must meet specific conditions, such as having a provident fund loan-to-deposit ratio below 75% to initiate the conversion, with stricter controls in place for higher ratios [2][3]. - The maximum loan amount under the new policy is capped at 60% of the total purchase price, which is a deviation from the traditional 70% loan-to-value ratio [3]. Group 3: Market Trends - There is a noticeable increase in the transaction volume of low-priced second-hand housing, with 66% of transactions in Guangzhou being below 300 million yuan, indicating a shift towards first-time buyers [1][4]. - The trend of rising low total price housing transactions is also observed in other major cities, suggesting a broader market shift towards affordable housing options [4]. Group 4: Future Implications - The potential for the "commercial to public" policy to be implemented in more cities is anticipated, especially in areas with significant population mobility, which could enhance the depth and breadth of the policy's impact [4].

Core Viewpoint - The expansion of the "commercial to public" (商转公) housing loan conversion policy aims to alleviate the interest burden on borrowers and promote social consumption, with cities like Guangzhou and Hainan taking significant steps to implement this initiative [1][2][4]. Group 1: Policy Implementation - Guangzhou's new guidelines for the "商转公" program stipulate that the loan amount cannot exceed 60% of the total purchase price and must be based on the original commercial loan balance and future principal repayments [2]. - The eligibility criteria for applying for "商转公" loans include having the original commercial loan disbursed for over five years and obtaining consent from the original lender to convert to a public fund loan [2][3]. - Hainan's approach includes two methods for "商转公": "direct transfer with mortgage" and "self-funded settlement," allowing borrowers to convert loans under specific conditions [3]. Group 2: Market Impact - Over 30 cities, including Shenyang, Zhengzhou, and Foshan, have begun implementing the "商转公" policy, indicating a growing trend across the country [4]. - The initiative is expected to lower the cost of existing housing loans, thereby increasing disposable income for homebuyers and stimulating consumption [4]. - Different cities have varying requirements for the "商转公" program, with some like Shenyang and Foshan easing restrictions to lower the entry barriers for borrowers [4].

Core Viewpoint - Recent policies allowing the conversion of commercial housing loans to public housing fund loans ("商转公") have been implemented in multiple cities, aimed at reducing the financial burden on homebuyers by enabling them to switch from higher-interest commercial loans to lower-interest public fund loans [1][2][10]. Group 1: Policy Implementation - Cities such as Guangzhou and Hainan have introduced drafts for the "商转公" policy, allowing eligible homebuyers to convert their commercial loans into public fund loans under specific conditions [1][9]. - Nearly 20 cities, including Shenzhen, Chongqing, and Wuhan, have actively promoted the "商转公" policy this year [1]. Group 2: Financial Implications - The policy is designed to alleviate the financial pressure on homebuyers by allowing them to benefit from lower interest rates on public fund loans compared to commercial loans [2][10]. - For instance, in Guangzhou, the current interest rate for public fund loans is 2.6%, while commercial loan rates are around 3.0%, creating a significant interest rate differential [8][10]. Group 3: Market Context - The introduction of the "商转公" policy coincides with a weakening real estate market in some cities, making it a strategic tool for local governments to stimulate housing demand [7][8]. - The housing provident fund's robust financial position supports the implementation of this policy, with Guangzhou reporting a 4.88% year-on-year increase in contributions, totaling 1312.54 billion yuan for 2024 [6][12]. Group 4: Cost Savings for Homebuyers - A simulation indicates that converting a 1 million yuan commercial loan to a public fund loan could reduce monthly payments by approximately 198 yuan, leading to annual savings of about 2376 yuan and total savings of 47,520 yuan over 20 years [10][11]. - The policy is expected to directly impact existing loan holders by lowering their interest costs, thereby enhancing consumer spending power [10][15].