New housing policies have revitalized the housing market in Hangzhou. Yang Zehua, a recent home seller, is among those benefiting from these changes. He is now taking possession of a new property developed by Binjiang Real Estate Group. Since May 9, Hangzhou's new-home buyers enjoy a reduced down payment of 15 percent and an interest rate of 3.25 percent, following monetary policy adjustments introduced by the Chinese government on May 17.