5 min.
英语新闻丨Policy efforts can stabilize realty China Daily Podcast
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China still has policy room to further stabilize the property market by boosting demand and optimizing supply without excessive stimulus, thereby further reining in the industry's downturn, experts said.
专家表示，中国仍有政策空间通过提振需求和优化供应来进一步稳定房地产市场，而无需过度刺激，从而进一步遏制房地产业的低迷。
However, the country needs to ramp up efforts to restructure both the property industry and the broader economy, to ensure high-quality development, they said.
然而，他们表示，国家需要加大力度重组房地产业和整体经济，以确保高质量发展。
We believe that there's still a high possibility of more supportive policies aimed at stimulating sales in the short run, which will help constrain the decline in property sales," said Wang Xingping, senior analyst of the corporates department at rating agency Fitch Bohua.
评级机构惠誉博华工商企业部高级分析师王兴萍表示：“我们认为，短期内出台更多旨在刺激销售的支持性政策的可能性很大，这将有助于抑制房地产销售的下滑。”
"The purchase restrictions in some districts of tier-1 cities are expected to be eased. However, the complete cancellation of such curbs in core areas of tier-1 cities may not happen in the short run as regulators aim to stabilize the property market while avoiding overheating again."
“一线城市部分地区的限购政策有望放宽。然而，一线城市核心地区可能不会在短期内完全取消此类限制，因为监管机构的目标是稳定房地产市场，同时避免再次过热。”
The Chinese authorities announced a new round of policy easing measures on Friday. They rolled out a series of significant supportive policies nationwide, including further reduction in the down payment ratio to a historic low, lifting of the lower limit for personal mortgage loan interest rates, lowering of the provident fund loan interest rates and establishment of the special-purpose re-lending program for affordable housing. The new policies' aim is to boost homebuyer sentiment and ease developer liquidity stress.
5月17日，中国相关机构宣布了新一轮政策宽松措施。他们在全国范围内推出了一系列重大支持政策，包括进一步降低首付比例至历史最低水平，取消个人按揭贷款利率下限，降低公积金贷款利率，以及建立保障性住房专项再贷款计划。新政策的目的是提振购房者情绪，缓解开发商的流动性压力。
Robin Xing, chief China economist at Morgan Stanley, forecast that housing support measures may continue to evolve in the coming quarters. "We see more urgency to execute home completion with better utilization of policy banking tools," Xing said.
摩根士丹利中国首席经济学家邢自强预测，未来几个季度，住房支持措施可能会继续出台。邢自强说：“我们认为，通过更好地利用政策性银行工具来执行竣工验收更为紧迫。”
With further home purchase relaxations anticipated, the announced policies should facilitate faster market clearing, support liquidity among developers, restore homebuyer confidence and improve housing investment, albeit with a lag, he said.
他说，预计将进一步放宽购房限制，已宣布的政策应有助于加快市场出清，支持开发商的流动性，恢复购房者的信心，并改善住房投资，尽管会有一定的滞后性。
Amid a challenging period of sluggish demand and liquidity stress, the combined revenues of Chinese mainland developers listed in the A-share and Hong Kong markets reached 4.1 trillion yuan ($570 billion) in 2023, up 3.4 percent year-on-year, according to a report by Chinese-language newspaper Securities Times. Half of the developers realized revenue growth last year, having seen their revenue plunge in 2022.
根据中文报纸《证券时报》的一份报告，在需求疲软
China still has policy room to further stabilize the property market by boosting demand and optimizing supply without excessive stimulus, thereby further reining in the industry's downturn, experts said.
专家表示，中国仍有政策空间通过提振需求和优化供应来进一步稳定房地产市场，而无需过度刺激，从而进一步遏制房地产业的低迷。
However, the country needs to ramp up efforts to restructure both the property industry and the broader economy, to ensure high-quality development, they said.
然而，他们表示，国家需要加大力度重组房地产业和整体经济，以确保高质量发展。
We believe that there's still a high possibility of more supportive policies aimed at stimulating sales in the short run, which will help constrain the decline in property sales," said Wang Xingping, senior analyst of the corporates department at rating agency Fitch Bohua.
评级机构惠誉博华工商企业部高级分析师王兴萍表示：“我们认为，短期内出台更多旨在刺激销售的支持性政策的可能性很大，这将有助于抑制房地产销售的下滑。”
"The purchase restrictions in some districts of tier-1 cities are expected to be eased. However, the complete cancellation of such curbs in core areas of tier-1 cities may not happen in the short run as regulators aim to stabilize the property market while avoiding overheating again."
“一线城市部分地区的限购政策有望放宽。然而，一线城市核心地区可能不会在短期内完全取消此类限制，因为监管机构的目标是稳定房地产市场，同时避免再次过热。”
The Chinese authorities announced a new round of policy easing measures on Friday. They rolled out a series of significant supportive policies nationwide, including further reduction in the down payment ratio to a historic low, lifting of the lower limit for personal mortgage loan interest rates, lowering of the provident fund loan interest rates and establishment of the special-purpose re-lending program for affordable housing. The new policies' aim is to boost homebuyer sentiment and ease developer liquidity stress.
5月17日，中国相关机构宣布了新一轮政策宽松措施。他们在全国范围内推出了一系列重大支持政策，包括进一步降低首付比例至历史最低水平，取消个人按揭贷款利率下限，降低公积金贷款利率，以及建立保障性住房专项再贷款计划。新政策的目的是提振购房者情绪，缓解开发商的流动性压力。
Robin Xing, chief China economist at Morgan Stanley, forecast that housing support measures may continue to evolve in the coming quarters. "We see more urgency to execute home completion with better utilization of policy banking tools," Xing said.
摩根士丹利中国首席经济学家邢自强预测，未来几个季度，住房支持措施可能会继续出台。邢自强说：“我们认为，通过更好地利用政策性银行工具来执行竣工验收更为紧迫。”
With further home purchase relaxations anticipated, the announced policies should facilitate faster market clearing, support liquidity among developers, restore homebuyer confidence and improve housing investment, albeit with a lag, he said.
他说，预计将进一步放宽购房限制，已宣布的政策应有助于加快市场出清，支持开发商的流动性，恢复购房者的信心，并改善住房投资，尽管会有一定的滞后性。
Amid a challenging period of sluggish demand and liquidity stress, the combined revenues of Chinese mainland developers listed in the A-share and Hong Kong markets reached 4.1 trillion yuan ($570 billion) in 2023, up 3.4 percent year-on-year, according to a report by Chinese-language newspaper Securities Times. Half of the developers realized revenue growth last year, having seen their revenue plunge in 2022.
根据中文报纸《证券时报》的一份报告，在需求疲软
5 min.