中国地产：实体市场-行之有效的举措：价格稳定是关键-China Property_ Physical Market - Doing the Right Things; Price Stabilization Pivotal

Vi e w p o i n t | 10 Dec 2025 10:55:22 ET │ 54 pages See Appendix A-1 for Analyst Certification, Important Disclosures and Research Analyst Affiliations. New round of local stimulus; watch for pro-leverage initiatives but unlikely for now — i) we believe new round of demand-side local stimulus (incl. purchase subsidies) in 4Q25 might help but are unlikely to alter home price expectations; ii) we would watch for targeted monetary easing or pro-leverage initiatives but see low likelihood for now; iii) urban ...