Group 1 - Concerns about a significant adjustment in the real estate sector in the second half of the year are deemed unnecessary, as the impact of real estate on the macro economy has significantly decreased [2] - The central urban work conference indicates that real estate financing and related policies will enter a new phase, alleviating fears of major adjustments in the real estate market [2] - The "old-for-new" policy is expected to stimulate over 1 trillion yuan in consumption, supported by expanded coverage and local funding [3] Group 2 - The low price phenomenon is linked to excessive "involution," and measures to address this issue are anticipated to improve pricing conditions in the second half of the year [4] - The overall economic growth in the first half of the year exceeded expectations, but challenges remain, including external demand pressure and fluctuations in real estate [2] - The government’s strategic initiative to expand consumption will evolve from surface measures to a more systematic approach, addressing both short-term and mid-term needs [3]