中央经济工作会议强调着力稳定房地产市场 住房公积金改革料将提速

Core Viewpoint - The Central Economic Work Conference held on December 10-11 emphasizes the need to stabilize the real estate market in 2024, with a focus on risk prevention and the introduction of new policies to stimulate demand [1][7]. Group 1: Market Stabilization and Risk Management - The conference highlights that risk prevention remains a key task for the real estate sector, with ongoing risk management for companies that have already faced difficulties and concerns about new debt risks among leading firms [1][6][14]. - Experts suggest that the real estate market is expected to "stop falling and stabilize," with new policies likely to include further reductions in mortgage and provident fund loan rates, as well as increases in loan limits to stimulate homebuyer demand [1][4][11]. Group 2: Housing Provident Fund Reforms - The conference calls for deepening reforms of the housing provident fund system, which has not been explicitly mentioned in recent years, indicating a significant shift in policy focus [2][8]. - Current reforms include expanding the use of provident funds for down payments and supporting a "both withdraw and loan" model, with some regions allowing withdrawals for tax payments [9][10]. Group 3: Supply and Demand Dynamics - The total loan quota for "white list" real estate projects has reached 7 trillion yuan, an increase of 2 trillion yuan from the previous year, indicating a push to enhance supply-side financing [5][11]. - It is anticipated that policies will continue to support the construction of better quality and greener housing, while also promoting affordable housing to balance the market [5][12]. Group 4: Future Policy Directions - The conference suggests that there may be further relaxation of purchase restrictions in 2026, with local governments encouraged to utilize special bond funds to acquire existing homes for affordable housing [11][12]. - Experts predict that targeted interest rate cuts for residential loans and fiscal subsidies may be implemented to enhance support for homebuyers [12][13].