Group 1 - In August 2025, the sales prices of new residential properties in first-tier cities decreased by 0.1% month-on-month, with Shanghai increasing by 0.4% while Beijing, Guangzhou, and Shenzhen saw declines of 0.4%, 0.2%, and 0.4% respectively [2] - The sales prices of new residential properties in second-tier cities decreased by 0.3% month-on-month, and in third-tier cities, the decrease was 0.4% [2] - The sales prices of second-hand residential properties in first-tier cities decreased by 1.0% month-on-month, with Beijing, Shanghai, Guangzhou, and Shenzhen experiencing declines of 1.2%, 1.0%, 0.9%, and 0.8% respectively [2] Group 2 - Year-on-year, the sales prices of new residential properties in first-tier cities decreased by 0.9%, with Shanghai increasing by 5.9% while Beijing, Guangzhou, and Shenzhen saw declines of 3.5%, 4.3%, and 1.7% respectively [2] - The year-on-year sales prices of new residential properties in second-tier and third-tier cities decreased by 2.4% and 3.7% respectively, with the declines narrowing by 0.4 and 0.5 percentage points [2] - Year-on-year, the sales prices of second-hand residential properties in first-tier cities decreased by 3.5%, with Beijing, Shanghai, Guangzhou, and Shenzhen experiencing declines of 3.1%, 2.6%, 6.2%, and 1.9% respectively [3]

Group 1 - In August 2025, the sales prices of new residential properties in first-tier cities decreased by 0.1% month-on-month, with a narrowing decline compared to the previous month [2][3] - The month-on-month decline in new residential property prices for second-tier cities was 0.3%, showing a narrowing of 0.1 percentage points, while third-tier cities saw a decline of 0.4%, which is an increase of 0.1 percentage points [3] - The sales prices of second-hand residential properties in first-tier cities decreased by 1.0% month-on-month, remaining unchanged from the previous month [3] Group 2 - Year-on-year, the sales prices of new residential properties in first-tier cities fell by 0.9%, with a narrowing decline of 0.2 percentage points compared to the previous month [4] - In August, the year-on-year decline for new residential property prices in second-tier and third-tier cities was 2.4% and 3.7%, respectively, with declines narrowing by 0.4 and 0.5 percentage points [4] - The year-on-year decline in second-hand residential property prices in first-tier cities was 3.5%, which is an increase of 0.1 percentage points compared to the previous month [4]

Group 1 - In August 2025, the sales prices of new residential properties in first-tier cities decreased by 0.1% month-on-month, with the decline narrowing by 0.1 percentage points compared to the previous month [2] - The sales prices of new residential properties in second-tier cities fell by 0.3% month-on-month, with the decline narrowing by 0.1 percentage points [2] - The sales prices of new residential properties in third-tier cities decreased by 0.4% month-on-month, with the decline widening by 0.1 percentage points [2] Group 2 - Year-on-year, the sales prices of new residential properties in first-tier cities dropped by 0.9%, with the decline narrowing by 0.2 percentage points compared to the previous month [2] - In first-tier cities, Shanghai saw an increase of 5.9%, while Beijing, Guangzhou, and Shenzhen experienced declines of 3.5%, 4.3%, and 1.7% respectively [2] - Year-on-year, the sales prices of new residential properties in second-tier and third-tier cities fell by 2.4% and 3.7%, with declines narrowing by 0.4 and 0.5 percentage points respectively [2] Group 3 - In August, the sales prices of second-hand residential properties in first-tier cities decreased by 3.5% year-on-year, with the decline widening by 0.1 percentage points compared to the previous month [3] - The year-on-year declines in second-hand residential property prices for Beijing, Shanghai, Guangzhou, and Shenzhen were 3.1%, 2.6%, 6.2%, and 1.9% respectively [3] - The year-on-year sales prices of second-hand residential properties in second-tier and third-tier cities fell by 5.2% and 6.0%, with declines narrowing by 0.4 percentage points for both [3]

Economic Indicators - The National Bureau of Statistics reported that GDP grew by 5.3% year-on-year in the first half of the year [1] - In June, the industrial added value above designated size increased by 6.8% year-on-year [1] - Fixed asset investment nationwide increased by 2.8% year-on-year in the first half of the year [1] - Retail sales of consumer goods in June rose by 4.8% year-on-year [1] - Real estate development investment nationwide decreased by 11.2% year-on-year from January to June [1] Consumer Market Outlook - The Deputy Director of the National Bureau of Statistics indicated that consumer development in the second half of the year is supported by positive factors and trends from the first half, with continued strengthening of consumption policies [2] Real Estate Market Trends - As of June 2025, the sales prices of commercial residential properties in 70 large and medium-sized cities showed a month-on-month decline, with the overall year-on-year decline narrowing [3] Technology Sector Developments - NVIDIA's founder and CEO announced that the U.S. has approved the export of H20 chips to China, and NVIDIA will launch the RTXpro GPU [4] Stock Market Performance - As of the midday close, the Shanghai Composite Index fell by 0.93%, the Shenzhen Component Index decreased by 0.26%, while the ChiNext Index rose by 0.64%. The Hang Seng Index and the Hang Seng Tech Index both increased by 0.2% [5]

Group 1 - In May 2025, the sales prices of new residential properties in first-tier cities decreased by 0.2% month-on-month, with Shanghai increasing by 0.7% while Beijing, Guangzhou, and Shenzhen saw declines of 0.4%, 0.8%, and 0.4% respectively [3] - The sales prices of second-hand residential properties in first-tier cities fell by 0.7% month-on-month, with Beijing, Shanghai, Guangzhou, and Shenzhen experiencing declines of 0.8%, 0.7%, 0.8%, and 0.5% respectively [3] Group 2 - Year-on-year, the sales prices of new residential properties in first-tier cities decreased by 1.7%, a reduction in the decline by 0.4 percentage points compared to the previous month, with Shanghai increasing by 5.9% and declines in Beijing, Guangzhou, and Shenzhen of 4.3%, 5.8%, and 2.6% respectively [4] - The year-on-year sales prices of second-hand residential properties in first-tier cities decreased by 2.7%, with a reduction in the decline by 0.5 percentage points compared to the previous month, where Beijing and Shanghai saw declines of 0.7% and 0.1% respectively [4]