Hangzhou Housing Security and Housing Management Bureau recently announced that enterprises and public institutions are prohibited from purchasing housing, including newly built commercial housing and secondhand housing in Hangzhou.

Hangzhou is now the third city nationwide to clearly forbid enterprises and institutions from purchasing housing. Xi'an and Changsha have already done so.

The launch of the policy comes after reports that some individuals participate in Hangzhou's housing purchasing lottery in the name of the enterprises they own. This move is regarded as a way to close to this loophole in the housing purchasing lottery system, which goes against the interests of ordinary house purchases and the country's policy that houses are for living in.

Hangzhou's new restriction policy aims to curb speculation in the name of enterprises, which is expected to safeguard fairness in the housing market.