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].