The property market welcomes another major boost! How will the follow-up effects of policies such as reserve requirement reduction and interest rate cuts play out?

At today's State Council Information Office press conference, the reduction of reserve requirements and interest rates, as well as the decrease in public housing fund loan rates, have brought another major positive development to the real estate market. Let's discuss this series of policies, who they are currently affecting the most, and what future impact they may have. First of all, today's policies are definitely beneficial for home buyers, especially those in first and second-tier cities. Since the first quarter, influenced by previous policies, the traditional peak season for real estate sales in "Golden March, Silver April" has performed well in first and second-tier cities. First-tier cities have shown overall strong performance, with a 0.6% increase in new home sales area, and second-tier city markets are continuing to recover. In this context, the looser policies announced today will further stimulate housing demand in first and second-tier cities, extending the current trend of "early spring warmth," and may lead to further stabilization of the real estate market in May. Secondly, more new real estate policies are expected to be introduced. After today's series of policy announcements, we have already seen adjustments to public housing fund loan rates in cities such as Hangzhou, Changsha, and Shanghai. In order to maintain stability in the real estate market, future policies involving both supply and demand sides are expected to be further optimized, especially measures related to reducing inventory that are expected to accelerate their implementation.