Core Viewpoint - The Shenzhen Housing Provident Fund Management Center has successfully launched a free fund custody service for cross-bank "mortgage transfer" in second-hand housing transactions, significantly reducing transaction costs and improving efficiency for buyers and sellers [1][2][3]. Group 1: Service Overview - The "mortgage transfer" fund custody service allows buyers to deposit their down payment into a dedicated custody account, with the bank's loan also deposited into this account post-property transfer, streamlining the payment process to sellers [2][3]. - Since its launch in May last year, the service has been implemented successfully with 25 banks, including major institutions like ICBC, ABC, and BOC, helping buyers save on transaction fees [1][2]. Group 2: Benefits and Efficiency - The new service eliminates the need for sellers to pay "bridge fees" and other costs associated with traditional property transactions, thus reducing overall transaction costs [2][3]. - The process has been shortened to less than one month from signing the agreement to receiving the property certificate, enhancing transaction efficiency [1]. Group 3: Market Impact - The initiative has been recognized as an excellent case for optimizing the business environment in Shenzhen, indicating its positive impact on the local real estate market [3][4]. - The service aims to break down information barriers between buyers, sellers, and banks, facilitating real-time updates on transaction progress [2][3]. Group 4: Future Developments - The Housing Provident Fund Management Center plans to expand the applicability of the "mortgage transfer" service and enhance inter-departmental coordination and information sharing [4]. - Continuous optimization of processes and improvement of approval efficiency are also on the agenda to further enhance the convenience and safety of housing transactions [3][4].