Guangzhou launches “no trips needed” real estate registration + financial services + Internet pilot project

　　To further implement the Internet Plus Government Services and “one trip at most” national policy initiatives, deepen reforms that delegate power, improve regulation and upgrade services, improve the business environment and speed up progress in enhancing both real estate registration capabilities and practices, the Guangzhou Land Resources and Planning Commission (the “Guangzhou Land Planning Commission”) and the Guangzhou office of the Industrial and Commercial Bank of China (ICBC Guangzhou) held the launch ceremony for the Guangzhou municipal “no trips needed” real estate registration + financial services + Internet pilot project at the Guangzhou Municipal Real Estate Registration Center. The pilot project will focus on real estate registration transactions such as deregistration of mortgages in exploring the implementation of “no trips needed” and remote approvals for real estate government services and create a new model for real estate registration in Guangzhou.

　　1. Since July 2, 2018, under the new pilot project, enterprises and members of the public have been able to carry out real estate registration transactions such as deregistration of mortgages without having to make a trip to service centers. Four Guangzhou ICBC branches (Beijing Road branch, Miaoqian branch, Tongfu Middle Road branch and Xihua Road branch) and mortgage deregistration were part of this pilot trial. Through technological means such as the Internet and facial recognition, and on the basis of existing measures such as making appointments through facial recognition and “unified municipal services” (where certain transactions may be processed at service counters throughout the city, instead of being limited by administrative district), the pilot project further improved platforms for online services. Real estate registration agencies and financial institutions came together to provide quality services, realizing the first phase for “no trips needed” real estate registration reform where approvals may be granted remotely.

　　2、 From August 1, 2018, the pilot project ran a trial where registrants could retrieve information on the outcomes of real estate registration applications on WeChat platforms for the six central urban districts of Guangzhou, meeting demands from enterprises and members of the public for “no trips needed” remote outcome enquiry. In addition, ICBC was selected to take part in a pilot trial where the municipal government and financial institutions would share data. Under this new model, members of the public are no longer required to visit real estate registration service counters to apply for a “Certificate of Total Properties Owned by Members of the Household” or a “Property Rights Report” for the property to be mortgaged when applying for housing loans. Housing loan applications may now be carried out through enquiry by remote authorization, allowing “data to run errands” and eliminating the need to visit service counters in person. Also, building on existing on-the-spot issuance and issuance by post services, the pilot trial increased the number of self-service means for certificate issuance by introducing self-service certificate issuance terminals, reducing service costs and improving service efficiency. Through measures such as WeChat enquiries and self-service certificate issuance, the pilot trial launched a model for 24/7 smart services.

　　3. The Guangzhou Municipal Land Resources and Planning Commission and the ICBC Guangzhou office will further expand the scope of the pilot project. Plans have been made to incorporate the registration of mortgages and the registration of transfers of new housing units (for those where advance notice has been given) into the pilot project, allowing for relevant transactions to be carried out remotely.

　　4. According to ICBC Guangzhou, municipal residents once had to make several trips to bank branches and real estate registration service counters to perform the various transactions required for personal loans, from the application for various certificates prior to loan application, mortgage registration after loans have been approved, and mortgage de-registration after the loan has been repaid in full. The roll-out of this new innovative model removes the need to visit real estate registration service counters, making the process far more convenient for the public. In addition, this also further accelerates financing efficiency, reduces enterprise operating costs and improves the business environment in Guangzhou.

　　In the next phase, Guangzhou will further increase the number of “no trips needed” real estate registration transactions where approvals may be granted remotely, as well as expand the reach of the pilot project to all financial institutions and development projects within central urban districts. Pilot trials will also be launched in phases for real estate registration transactions in peripheral districts, further promoting online applications and approvals for real estate registration transactions. Real estate registration agencies will no longer require applicants to submit hardcopy documents, and the scope of “no trips needed” applications by proxy will be further upgraded into a comprehensive, paperless “no trips needed” service model. Members of the public perceive all transactions related to real estate to be part of the same matter. In line with this standard, Guangzhou will integrate relevant processes, take a multi-pronged approach in promoting the sharing of relevant data, overhaul transaction workflows, greatly streamline the list of documents required for applications, shorten processing times, reduce the tangible and intangible costs on enterprises and members of the public, further realize the integration of all estate registration transactions in one network, and increase the people’s sense of gain.