Hongxing News:

How do you view the current trends in the real estate industry, and how effective have the various local real estate support measures been? The next phase includes the traditional "Golden September and Silver October" period for the property market. What's your perspective on the trends for this upcoming phase? Thank you.

Liu Aihua:

Your question concerns the real estate sector. Some key indicators show a narrowing of declines due to a series of policies and measures. From January to August, real estate development investment fell by 10.2%, the same rate of decline as in the first seven months of the year. The sales area of commercial housing decreased by 18%, with the decline narrowing by 0.6 percentage point. The sales value of commercial housing dropped by 23.6%, with the decline narrowing by 0.7 percentage point. The area of new housing construction decreased by 22.5%, with the decline narrowing by 0.7 percentage point.

These changes indicate the real estate market is still undergoing adjustments. Looking ahead, China's ongoing urbanization and the accelerating development of a new real estate model suggest the market still has a significant potential. We must continue implementing city-specific policies and accelerate policy implementation to gradually promote steady, healthy real estate market development and better meet people's housing needs. Thank you.