The CPC held a Politburo meeting on Tuesday and set economic priorities for 2H24, but gave no further indication on property market stimulus.

Will promptly introduce accessible reform measures, and speed up the implementation of the identified policy measures.

Should reserve and launch a number of incremental policy measures ASAP.

Domestic effective demand remains insufficient.

Saw many risks and hidden dangers in key areas.

It is necessary to strengthen counter-cyclical adjustments, and to implement a proactive fiscal policy and prudent monetary policy.

It is necessary to cultivate and expand emerging industries and future industries.

It is necessary to comprehensively use a variety of monetary policy tools.

It is necessary to increase financial support for the real economy, and promote a steady decline in the cost of comprehensive social financing.

Will launch a new round of pilot measures to expand the opening up of the service industry, so as to promote the use of foreign capital for stability.

Will create conditions to accelerate the resolution of debt risks of local financing platforms.