Follow up on Guangzhou! First-tier cities all cancel the standard of ordinary and non-ordinary residential properties, what is the market impact?

① With Guangzhou's official announcement today, all four first-tier cities have now canceled the standards for ordinary residences and non-ordinary residences. ② "For first-tier cities, after canceling the standards for ordinary residences and non-ordinary residences, it can significantly reduce the value-added tax costs in the second-hand housing trade process, lower transaction costs, and promote improving demand."

cls.cnNov 22 01:49 ET

shenzhen invest (00604.HK): Wang Yuwen acting as the chairman of the board of directors.

Gelonghui, November 20 – Shenzhen Invest (00604.HK) announced that due to Lu Hua reaching retirement age, he will resign as chairman of the board of directors and company executive director, effective from November 20, 2024. Dr. Lu will also no longer serve as the company's authorized representative and a member of the nomination committee, effective from the same date. The company's executive director and president, Wang Yuwen, will act as chairman of the board of directors effective from November 20, 2024, until a new chairman is appointed. Wang Yuwen has been appointed as the company's authorized representative and a member of the nomination committee, effective from the same date.

Gelonghui FinanceNov 20 03:39 ET

Express News | Shenzhen Investment - Wang Yuwen to Act as Acting Chairman

ReutersNov 20 03:37 ET

Express News | Shenzhen Investment - Lu Hua Retired as Chairman of Board and Executive Director

ReutersNov 20 03:37 ET

The unchanged LPR in November meets market expectations. Industry insiders do not rule out the possibility of further interest rate cuts next year along with the reverse repurchase rate.

① By the end of the year, the economic running is expected to continue its upward trend, with policy interest rates likely to remain stable and LPR quote also expected to stay unchanged. ② There is a high possibility of further reductions in deposit rates in the future, coupled with the issuance of special treasury bonds to support large state-owned commercial banks in replenishing their core tier one capital, which is expected to gradually alleviate the interest spread and operational pressure for commercial banks. It is possible that next year the LPR quote may be accompanied by further interest rate cuts on reverse repurchase agreements.

cls.cnNov 19 21:08 ET

According to the Finger Research Institute, in October, the average price of second-hand residences in 100 cities dropped by 7.27% compared to the same period last year.

According to data monitoring by the China Index Academy, in October 2024, the average price of second-hand residences in 100 cities was 14,360 yuan per square meter, a month-on-month decrease of 0.60%, narrowing the decline by 0.10 percentage points compared to September; a year-on-year decrease of 7.27%.

Zhitong FinanceNov 19 20:29 ET