According to the Huatai Securities Research Report, as of October 8, Beijing, Shanghai, Guangzhou, and Wuhan have successively issued housing sales system reform rules. Compared with the Beishangguang Plan, Wuhan provides more flexible space. In the future, the rules for second- and third-tier cities may generally be more flexible than that of Beishangguang, which will help cushion the impact of sales system reforms on housing enterprises and the industry. Overall, the market has responded relatively fully to the reform of the sales system. In the future, it will refocus on the real estate volume and price recovery process, and the dual optimization of both supply and demand sides may accelerate the bottoming of housing prices in more cities. Huatai Securities is becoming active in the real estate sector, focusing on housing enterprises that are more adaptable to the new model: housing enterprises with outstanding financing, product capabilities, engineering capabilities, or operational management capabilities; leading second-hand housing brokers; leading Hong Kong-funded real estate companies; and high-quality commercial management and property management companies.

According to the Huatai Securities Research Report, as of October 8, Beijing, Shanghai, Guangzhou, and Wuhan have successively issued housing sales system reform rules. Compared with the Beishangguang Plan, Wuhan provides more flexible space. In the future, the rules for second- and third-tier cities may generally be more flexible than that of Beishangguang, which will help cushion the impact of sales system reforms on housing enterprises and the industry. Overall, the market has responded relatively fully to the reform of the sales system. In the future, it will refocus on the real estate volume and price recovery process, and the dual optimization of both supply and demand sides may accelerate the bottoming of housing prices in more cities. Huatai Securities is becoming active in the real estate sector, focusing on housing enterprises that are more adaptable to the new model: housing enterprises with outstanding financing, product capabilities, engineering capabilities, or operational management capabilities; leading second-hand housing brokers; leading Hong Kong-funded real estate companies; and high-quality commercial management and property management companies.