Core Viewpoint - The commentary by Meng Xiaosu highlights the issues surrounding auctioned properties, particularly the significant price drops and the impact on bank assets, suggesting a need for a pause in the auctioning process to restore confidence in the market [1] Group 1: Auctioned Properties - Auctioned properties are typically sold at around 70% of their market value, but many are being sold for as low as 50%, leading to drastic price reductions in surrounding properties [1] - The decline in property values results in further depreciation of bank assets, creating a cycle where unsold auctioned properties remain with the banks [1] Group 2: Banking Sector Implications - Banks are resorting to auctioning direct supply properties, which are essentially those that failed to sell in previous auctions [1] - Meng Xiaosu advocates for halting the auctioning of these properties, suggesting that banks should wait for a recovery in asset values rather than selling at a loss during a downturn [1] Group 3: Market Confidence - The need for confidence restoration is emphasized, not only for residents but also for financial institutions, indicating a broader concern for market stability [1]