Core Viewpoint - The real estate market in China is showing signs of stabilization and recovery due to effective policy adjustments and improvements in both supply and demand dynamics [1][6]. Group 1: Market Activity - In major cities, the new housing market has seen increased activity, with Shanghai reporting a 38% year-on-year increase in daily sales volume, and Beijing's new residential contracts rising by 11.9% [2][3]. - The second-hand housing market is also active, with a reported average of 35 transactions per day in Beijing since July [2][3]. - Nationally, the transaction volume of second-hand homes has increased, with Chengdu seeing a 19.8% year-on-year growth in transactions [3]. Group 2: Policy Measures - Various local governments are implementing policies to enhance housing supply, including the construction of affordable rental housing and the introduction of financial incentives for homebuyers [4][5]. - The introduction of policies such as "带押过户" (mortgage transfer) in Chengdu has facilitated smoother transactions in the second-hand market [3]. - The central government is advocating for a new real estate development model that emphasizes structural reforms in land supply and housing demand forecasting [8]. Group 3: Supply and Demand Balance - The construction of affordable housing is being prioritized, with significant numbers of new units being built across various regions, including 10.3 million units in Guangdong and 2.7 million in Beijing [4][5]. - Efforts to improve housing quality are underway, with policies aimed at enhancing the construction of high-quality homes [5][6]. - The overall funding situation for real estate developers is improving, with a reduction in the decline of funds available to developers by 16.4 percentage points year-on-year [6]. Group 4: Future Outlook - The ongoing urbanization process is expected to create new housing demands, particularly in lower-tier cities, as more people return to their hometowns [7]. - Experts believe that the real estate market still has significant growth potential, driven by structural changes in population and housing needs [7][8]. - The government is focused on stabilizing the market and ensuring a balanced supply-demand relationship through targeted reforms and policies [8].