China Property: Jul Politburo: Toned Down; Preventing Risk as Key Market Stabilizing

研报英文原文证据摘录

China Property: Jul Politburo: Toned Down; Preventing Risk as Key Market Stabilizing

ong special central gov’t bond on key development areas 支持国家重大战略和重点领域安全能力建设

e. Carry out and improve a series of debt mgmt plans to effectively prevent and defuse local debt risk e.要完善和落实地方一揽子化债方案，创造条件加快化解地方融资平台债务风险

f. Boost consumption and expand demand; Focus on improving people's livelihood, f.要以提振消费为重点扩大国内需求，经济政策的着力点要更多转向惠民生、促消费，

enhance income for low to middle income groups to enhance consumer w illingness 要多渠道增加居民收入，增强中低收入群体的消费能力和意愿

g. Further stimulate the enthusiasm of private investment and expand effective investment g.要进一步调动民间投资积极性，扩大有效投资

h.Stabilize exchange rate on a proper and balanced level h.要保持人民币汇率在合理均衡水平上的基本稳定

i. continue to prevent and defuse risks in key areas i. 要持续防范化解重点领域风险

Ii. Continue to implement city-specific policy. Local govt, property firms, and financial institutions ii.继续坚持因城施策，压实地方政府、房地产企业、金融机构各方责任，

are responsible to ensure housing delivery and protect home buyers‘ legitimate rights 切实做好保交房工作，保障购房人合法权益

iii. Coordinate research on policies and measures to digest existing home inventory iii.要结合房地产市场供求关系的新变化、人民群众对优质住房的新期待，

and optimize incremental units, under changes of demand-supply dynamics 统筹研究消化存量房产和优化增量住房的政策措施，

and people's new expectation of high-quality houses 抓紧构建房地产发展新模式，促进房地产高质量发展

Other key messages: 其他重要信息

a.Third plenary session of the 20th CPC Central Committee w ill be held in Beijing in July a.7月在北京召开中国共产党第二十届中央委员会第三次全体会议

b. Deeply implement local government debt risk resolution plans; ensure provinces, b.深入实施地方政府债务风险化解方案，确保债务高风险省份和市县

cities and counties w ith high debt risks can truly reduce debts and develop steadily 既真正压降债务、又能稳定发展

Apr-24 c. Continuous economy rebound faces many challenges, c.经济持续回升向好仍面临诸多挑战，主要是有效需求仍然不足，企业经营压力较大，