At the press conference of the State Information Office held on October 17, five departments, including the Ministry of Housing, Urban-Rural Development, the Ministry of Finance, the Ministry of Natural Resources, the People's Bank of China, and the General Administration of Financial Supervision, explained in detail the “combo punch” of policies to stop falling and stabilize real estate. Minister of Housing and Construction Ni Hong summed up the “combo punch” as “four cancellations, four reductions, and two increases.” Among them, the “two additions” policy attracted much attention, that is, the implementation of 1 million new urban village renovation units and dilapidated housing renovation, and the credit scale for the “white list” project increased to 4 trillion yuan. As a supplement to the collection and storage of special bonds, the Ministry of Natural Resources, the Central Bank, and the General Financial Supervisory Authority said that they are urgently studying the establishment of special loans to buy existing land, and the central bank is providing special reloan support. The Ministry of Finance also stated that it is urgently studying and clarifying tax policies linked to the abolition of standards for ordinary housing and non-ordinary housing, mainly including value-added tax and land value-added tax. The specific policies are being implemented as soon as possible, and will be promptly announced to the public after approval. Industry insiders believe that the direction of the current real estate policy is clear, and promoting the implementation of various policies in the future will be the key. If policies continue to gain strength and the economy recovers at an accelerated pace in the fourth quarter, core cities may bottom out and stabilize, thus providing important support for the national market to bottom up.

At the press conference of the State Information Office held on October 17, five departments, including the Ministry of Housing, Urban-Rural Development, the Ministry of Finance, the Ministry of Natural Resources, the People's Bank of China, and the General Administration of Financial Supervision, explained in detail the “combo punch” of policies to stop falling and stabilize real estate. Minister of Housing and Construction Ni Hong summed up the “combo punch” as “four cancellations, four reductions, and two increases.” Among them, the “two additions” policy attracted much attention, that is, the implementation of 1 million new urban village renovation units and dilapidated housing renovation, and the credit scale for the “white list” project increased to 4 trillion yuan. As a supplement to the collection and storage of special bonds, the Ministry of Natural Resources, the Central Bank, and the General Financial Supervisory Authority said that they are urgently studying the establishment of special loans to buy existing land, and the central bank is providing special reloan support. The Ministry of Finance also stated that it is urgently studying and clarifying tax policies linked to the abolition of standards for ordinary housing and non-ordinary housing, mainly including value-added tax and land value-added tax. The specific policies are being implemented as soon as possible, and will be promptly announced to the public after approval. Industry insiders believe that the direction of the current real estate policy is clear, and promoting the implementation of various policies in the future will be the key. If policies continue to gain strength and the economy recovers at an accelerated pace in the fourth quarter, core cities may bottom out and stabilize, thus providing important support for the national market to bottom up.