With the introduction of a package of incremental policies，Monetary policy increases countercyclical adjustment，Simultaneous implementation of comprehensive RRR cuts and powerful interest rate cuts，We are currently working hard to complete the annual economic and social development goals and tasks。Considering real estate、The stock bet365 online live casino involves the repair of residents and corporate balance sheets，This round of macro-control starts with stabilizing asset prices and reducing debt pressure，Emphasis on promoting the stabilization of the real estate bet365 online live casino and boosting the capital bet365 online live casino，Optimize the existing wealth structure of each department to achieve macro balance sheet rebalancing。This is precisely a useful attempt to implement national macro balance sheet management，Reflects that the thinking of macroeconomic governance is shifting from incremental management to a combination of stock management and incremental management。Since the end of September 2024，Real Estate、Stock bet365 online live casino、Consumption and other economic and financial indicators continue to improve，bet365 online live casino expectations have improved significantly，Powerfully promote economic recovery。

　There are positive changes in the real estate bet365 online live casino

The implementation of a package of real estate financial measures is accelerating，“Real money” boosts confidence of home buyers and real estate companies。On the demand side，“Four cancellations” comprehensively lower the threshold for home purchase，“Four reductions” significantly reduce the cost of buying a house，Significant increase in enthusiasm for home buying，There are obvious signs of stabilization and recovery in real estate transactions。CRIC monitoring data display，The commercial housing subscription area in the 23 key monitored cities increased by 77% month-on-month，Up 65% year-on-year。Among them，The four first-tier cities of Beijing, Shanghai, Guangzhou and Shenzhen grew by 102% year-on-year，2nd and 3rd tier cities increased by 55% year-on-year。Since October，The real estate bet365 online live casino continues to stabilize，Especially new houses in first-tier cities、The second-hand housing bet365 online live casino is both picking up，Single-week trading volume reaches the highest level since 2024。It is worth mentioning，Moderately lowering existing mortgage interest rates will help enhance residents’ debt sustainability、Expand residents’ consumption demand，For banks，It can also reduce interest losses caused by early repayment，And retain high-quality customers。Currently, the total amount of housing loans in my country is approximately 38 trillion yuan，The existing mortgage interest rate is reduced by 50 basis points and the October loan bet365 online live casino quotation rate (LPR) is reduced by 25 basis points，It will save home buyers 285 billion yuan in interest expenses every year，Benefiting 50 million households、1.500 million population。

On the supply side，Insist on strict control of increment、Optimize inventory、Improve quality，Improving the delivery capabilities of bet365 online live casino companies。On the one hand，Intensify the loan issuance of "whitelist" projects and expand coverage，Relieving liquidity pressure on bet365 online live casino companies，Fight the tough battle to ensure housing delivery。The bet365 online live casino financing coordination mechanism has initially shown results，As of the end of September，Commercial banks have approved more than 5,700 "whitelist" projects，The approved financing amount reaches 1.43 trillion yuan，Support the on-time delivery of more than 4 million housing units，The credit scale of "whitelist" projects will increase to 4 trillion yuan before the end of the year。On the other hand，Through monetized placement, etc.，1 million additional units of urban village renovation and dilapidated housing renovation，It will help release more housing demand，Accelerate the digestion of existing housing inventory，It also creates better conditions for subsequent housing security and housing improvement。According to estimate，The newly implemented 1 million units of urban village renovation and dilapidated housing renovation involve a renovation scale of about 1.100 million square meters，The demand for monetized resettlement funds is about 1.4 trillion yuan，Expected pull 1.1 trillion yuan in commercial housing sales。

　　Increased activity in the capital bet365 online live casino

To promote the healthy and stable development of the capital bet365 online live casino，People's Bank of China creates securities、Fund、Insurance company swap facilities and stock buybacks, holdings, and re-lending are two structural monetary policy tools，Study on establishing stock bet365 online live casino stabilization fund，Conducive to enhancing the inherent stability of the capital bet365 online live casino。This round of countercyclical regulation does not solely focus on the real economy，Instead, the policy focus is to boost the capital bet365 online live casino，Reflects innovation in macroeconomic governance，It can boost confidence immediately、Active economy，It can also play a role in promoting consumption and investment through the wealth effect。Introduced by a package of incremental policies、The Fed’s interest rate cut cycle begins、Domestic assets have been affected by long-term systematic undervaluation and other factors，The A-share bet365 online live casino rebounded rapidly from bear to bull in the short term，Attract residents’ deposits、Bank financing、Foreign capital and other incremental funds enter the bet365 online live casino，Transaction activity has increased significantly。Within 6 trading days from September 24 to October 8，The largest increase in the Shanghai Composite Index is 33.07%，The maximum increase of Shenzhen Component Index is 46.78%，The maximum increase in the GEM index is 68.37%，Single-day trading volume exceeds one trillion yuan。A-share active foreign capital inflow 2.USD billion，Monthly increase of 0.USD 100 million；Passive foreign capital inflow 41.USD billion，Monthly increase of 14.USD 600 million。

The recovery of the stock bet365 online live casino and the positive changes in the property bet365 online live casino have produced a relatively obvious wealth effect，Significantly enhanced effect on stimulating consumption。In particular, residents’ consumer confidence is gradually recovering，The consumer bet365 online live casino shows strong vitality。During the National Day holiday in 2024，Hotel accommodation in my country、Leisure entertainment and scenic spot ticket consumption increased by 17% year-on-year respectively.1%、22.1% and 1.9%。The number of domestic trips and expenditure nationwide increased by 10% compared with the same period in 2019.2%、7.9%，The increase is greater than the Mid-Autumn Festival holiday。Tourist unit price rebounded to 916.1 yuan，The highest level since 2019，Consumption potential is effectively released。

This innovation in macroeconomic governance ideas—focusing on stock management and focusing policy efforts on boosting asset prices，Played an important role in repairing the balance sheets of residents and businesses，Contribute to promoting positive changes in consumption and investment。With the continued bet365 online live casino a package of incremental policies，Our country is expected to achieve its annual economic and social development goals。

(The author is the director of the Institute of Finance, bet365 online live casino Academy of Social Sciences、Researcher；Associate researcher at the Institute of Finance, bet365 online live casino Academy of Social Sciences)