Legal analysis: at least 18-60 years old, with full capacity for civil conduct, with permanent residence of urban residents or legal and valid identity documents. China citizens with full capacity for civil conduct, Hong Kong, Macao and Taiwan natural persons with full capacity for civil conduct with the right of abode in Chinese mainland, and foreigners with full capacity for civil conduct with the right of abode in Chinese mainland.

Legal basis: Interpretation of the Supreme People's Court on Several Issues Concerning the Application of Law in the Trial of Disputes over Commercial Housing Sales Contracts.

Article 16 Where a party requests a reduction on the grounds that the agreed liquidated damages are too high, it shall appropriately reduce the liquidated damages according to the fact that the liquidated damages exceed 30% of the losses caused. If the parties demand an increase on the grounds that the agreed liquidated damages are lower than the losses caused, the amount of liquidated damages shall be determined according to the losses caused by the breach of contract.