The bureau of land and resources planning in the Wuhan Economic & Technological Development Zone (WHDZ) -- in Wuhan city in Central China's Hubei province -- has been facilitating corporate financing in an initiative that has boosted the efficiency of real estate mortgage services, according to local media reports.
A WHDZ resident surnamed Zhou is head of a beverage production company based in Wuhan.
According to Zhou, he was faced with difficulties in the turnover of corporate funds, and real estate mortgage registration was needed.
In order to ease the pressure on funds, his company mortgaged real estate to the bank. As long as he completed the real estate mortgage registration at the real estate registration window, he could get a bank loan.
Usually the process takes a few days.
Zhou went to the government service center on May 10. After learning about the difficulties facing the company, the member of staff at the real estate services window completed the registration procedures on the same day.
According to the staff, to better help with the work and production resumption of WHDZ-based businesses, the procedures now can be processed and completed within two hours.
On May 10 alone, a total of 41 real estate mortgage registration cases were handled.
