2024年10月17日国新办新闻发布会学习体会：多举措促进房地产市场止跌回稳，股市维持宽幅震荡

Policy Measures - The real estate market is being stabilized through a "combination punch" consisting of "four cancellations, four reductions, and two increases" [1] - Four cancellations include granting cities the autonomy to adjust or eliminate various home purchase restrictions [1] - Four reductions involve lowering housing provident fund loan rates by 0.25 percentage points, unifying the minimum down payment ratio for first and second homes to 15%, and reducing existing loan rates and tax burdens for home exchanges [1] Housing Improvement Initiatives - The government plans to implement 1 million new urban village and dilapidated housing renovations, which could account for 10.5% of new construction area in 2023 if each unit is 100 square meters [1][10] - The "white list" for credit projects in real estate will be expanded to 4 trillion yuan, aiming to include all qualified real estate projects [1][10] Market Outlook - The market is expected to enter a balanced phase, with future trends dependent on the pace and strength of incremental policies [2] - The Shanghai Composite Index is anticipated to stabilize around the gap created on September 27, with potential support from significant new capital inflows [2][25] - The market's ability to break previous highs is limited due to the predominance of retail investors, with institutional funds expected to adopt a more cautious trading style [2][25] Economic Indicators - As of mid-October, the average daily new home sales in 30 major cities showed a significant recovery, with a year-on-year decline narrowing from -32.4% in September to -4.5% [15] - The GDP growth rate for the third quarter was reported at 4.60%, slightly above market expectations, indicating a gradual recovery in the real economy [25]