双语新闻：稳定房地产市场的关键步骤

China's real estate market is expected to become fully stabilized in the second half of 2024, ending a three-year adjustment period, if the latest rounds of highly supportive policy measures are well implemented to boost homebuyer confidence and ease liquidity stress among developers, experts said on Friday.
专家周五表示，如果最新一轮高度支持的政策措施能够很好地实施，以提振购房者信心，缓解开发商的流动性压力，预计中国房地产市场将在2024年下半年完全稳定，结束三年的调整期。
 
They also expect restrictions on housing purchases and loans will be gradually phased out, while more policy measures may be needed to reinforce market expectations and accelerate recovery of the sector.
他们还预计，对住房购买和贷款的限制将逐步取消，同时可能需要更多的政策措施来加强市场预期，加快该行业的复苏。
 
Chinese authorities on Friday eased mortgage rules and vowed to fight the tough battle of dealing with the risk of unfinished commercial housing. They also asked to promote presold home deliveries, reduce housing inventories and improve financing for developers. Share prices of developers on A-share markets subsequently surged.
周五，中国当局放宽了抵押贷款规定，并发誓要打好应对未完工商品房风险的攻坚战。他们还要求促进预售房屋交付，减少住房库存，改善开发商的融资。随后，A股市场上开发商的股价飙升。

On Friday, the country removed commercial mortgage rate minimums for first and second homes nationwide, and lowered minimum down payment ratios for first and second homes, respectively, to 15 percent and 25 percent.
周五，中国取消了全国首套房和第二套房的最低商业抵押贷款利率，并将首套房和第一套房的最低首付比例分别降至15%和25%。

It also announced the establishment of a 300 billion yuan ($41.51 billion) relending facility for affordable housing to encourage and guide financial institutions to support local State-owned enterprises in acquiring unsold completed commercial housing at appropriate prices — to be used as either sale-oriented or rental-oriented affordable housing — in accordance with market-oriented and law-based principles.
它还宣布建立3000亿元人民币（415.1亿美元）的经济适用房再融资机制，以鼓励和引导金融机构支持地方国有企业按照市场化和法治原则，以适当的价格收购未售出的已竣工商品房，用作销售型或租赁型经济适用房。

Starting from Saturday, it will reduce interest rates for personal housing provident fund loans by 0.25 percentage points.
从周六开始，将下调0.25个百分点的个人住房公积金贷款利率。
 
In another development, at a news conference in Beijing on Friday, it was announced that new measures will be introduced to support local governments to recall or buy back unused residential land parcels held by property developers to help relieve their financial stress. Governments in cities with excess home inventories can organize local State-owned enterprises to buy unsold houses at appropriate prices and convert them into affordable housing, it said.
另一方面，周五在北京举行的新闻发布会上宣布，将出台新措施，支持地方政府召回或回购房地产开发商持有的未使用的住宅地块，以缓解他们的财务压力。报告称，住房库存过剩城市的政府可以组织当地国有企业以适当的价格购买未售出的住房，并将其转化为经济适用房。

"Centering on lowering mortgage rates, loosening home purchase restrictions and encouraging local government purchases of unsold houses to convert them into affordable housing, the latest rounds of policy measures will provide strong support for both supply and demand sides in the real estate sector," said Wang Qing, chief macroeconomic analyst at Golden Credit Rating International.
金信国际首席宏观经济分析师王青表示：“最新一轮的政策措施将以降低抵押贷款利率、放松购房限制和鼓励地方政府购买未售出的房屋转化为经济适用房为中心，为房地产行业的供需双方提供有力支持。”。

"This will promote presold home delivery and alter the ongoing trend of a substantial year-on-year decline in completed areas of commercial properties since the start of the year. Additionally, it will effectively reduce inventory pressure, alleviate the financial strain on developers and better manage default risks," Wang said.
王表示：“这将促进预售房屋交付，改变年初以来商业地产竣工面积同比大幅下降的趋势。此外，这将有效减轻库存压力，缓解开发商的财务压力，更好地管理违约风险。”。