Shou Xiaoli:

Let's continue. Due to time constraints, last two questions.

Market News International:

Recently, major cities have reported an increase in the number of visitors to housing projects and subscriptions to real estate. What's the Ministry of Housing and Urban-Rural Development's expectation for the overall trend of housing sales in October? What follow-up policies will be introduced to stabilize the real estate market?

Ni Hong:

Thanks to this foreign media reporter. On Sept. 26, the meeting of the Political Bureau of the CPC Central Committee emphasized that it is necessary to stabilize the real estate market, releasing a positive signal. Relevant departments have introduced a series of policies and measures in the areas of fiscal, taxation and finance. Local governments have adopted city-specific policies and have canceled or reduced relevant restrictions to meet residents' demands for buying their first homes or improving their housing situations. It can be said that market confidence has been effectively boosted. Based on the market reaction, there has been a significant increase in the number of property viewings and visits in many cities and projects, and the sales volume has also increased to varying degrees. Major indicators of the real estate market have improved significantly. In particular, all the indicators in the top-tier cities have stabilized since October.

At the same time, we also see that under the effect of a series of policies, China's real estate market has begun to bottom out after three years of adjustments. You asked about the data in October. We expect that it will be a positive and optimistic result.

Concerning policies for stabilizing the real estate market, I have already made introductions at the beginning, and all departments participating in the press conference today have also introduced very valuable and practical policies. Next, we must make concerted efforts to make good use of these policies and ensure their implementation, so that these policies can fully take effect and bring benefits to the people. It can be said that we have confidence in stabilizing the real estate market. Thank you!