China Tries to Keep Plates Spinning Amid Lockdowns

China Daily: Regulations eased to boost property market
As of April 20, more than 85 cities had eased their home buying regulations, with measures ranging from looser purchasing restrictions, loan limitations and sales curbs to lowering the down payment proportion, cutting home loan interest rates, providing support via provident fund loans, and others, according to calculations by the Zhuge Real Estate Data Research Center.

"On the one hand, these policies have unleashed rational home demand, while on the other they have boosted home buyers' confidence in the market outlook, which will help increase transactions in the coming months," said Wang Xiaoqiang, chief analyst with the research center. She added that as the measures gradually take effect, the market will heat up step-by-step.

iFeng: 央行、银保监会表态资本市场、房地产、平台经济:及时优化地产信贷政策
1. Encourage large banks and other high-quality listed banks with relatively high provision levels to reduce provision coverage ratios in an orderly manner and release more credit resources.

2. Promote the increase in the amount of financing, the expansion of the scope, and the price reduction of small and micro enterprises, support the relief of difficult industries such as foreign trade, service industry, and civil aviation, and increase financial support for technological innovation, specialization, specialization, and new enterprises.

Credit growth rises when it flows into housing, or it doesn't rise much. Will it be different this time?
As for the lockdowns, the public thinks they're all about the virus: 关键时刻 中央开了一次很不寻常的会议

At a critical moment, the central government held a very unusual meeting!

Biggest unusual:

First, the time for the conference draft is not the evening news broadcast, but 12:30 noon, which is very rare;

The second is the wording of the meeting. From the beginning to the end of the Xinhua News Agency's press release, a strong sense of urgency and mission was felt.

For example, the Xinhua News Agency's report on the Politburo meeting on April 29, in addition to pointing out that this year's "achievements were hard -won ," immediately judged the current situation:

The meeting pointed out that the new crown pneumonia epidemic and the Ukraine crisis have led to increased risks and challenges, the complexity, severity and uncertainty of China's economic development environment have increased, and stable growth, employment, and prices are facing new challenges. It is very important to do a good job of economic work and to ensure and improve people's livelihood. It is necessary to strengthen confidence, overcome difficulties, and ensure that the major policies and principles of the Party Central Committee are implemented in place.

The situation this year is indeed not optimistic. I believe that everyone is well aware of it.

Two of the most important risk challenges: Covid-19, Ukraine crisis.

What matters?

Do a good job of economic work, and effectively protect and improve people's livelihood.

Development is the last word, and people's livelihood is the biggest politics.

The center is very awake.

So, the next sentence is very important:

The meeting emphasized that the epidemic must be prevented, the economy must be stabilized, and development must be safe, which is a clear requirement of the Party Central Committee.

Please note that the epidemic must be prevented, the economy must be stabilized, and development must be safe. These 15 words are the clear requirements of the Party Central Committee.

Point out directly, without ambiguity, not to grab one and put the other, but three, we all want.

That's confidence, that's the mission.

Officials at all levels, do you understand?

Of course, the most important thing is how to do it?

I believe that for many of my friends, the biggest headache right now is the epidemic.

Because of the epidemic, many people's long-awaited May Day holiday has become a home tour; many families, separated from each other, are temporarily unable to reunite.

When I woke up, the neighborhoods next to me were temporarily under control, and my friends there would all have a special Labor Day.

There is no way to do this. The situation of the epidemic is indeed severe, and we cannot afford to take it lightly.

How does the center judge?

Xinhua News Agency's press release, the central government has this paragraph:

According to the new characteristics of virus mutation and spread, it is necessary to efficiently coordinate epidemic prevention and control and economic and social development, unswervingly adhere to the people first, life first, adhere to external prevention of import, internal prevention of rebound, insist on dynamic clearing, and protect people's lives to the greatest extent. and health, and minimize the impact of the epidemic on economic and social development.

A very meaningful sentence.

1. Now that the epidemic has new characteristics, we must adapt to changes according to the mutation and spread of the virus, not static.

2. It is necessary to coordinate epidemic prevention and control and economic and social development, and to coordinate efficiently . Once again, it is not just one and no other.

3. Three insistences and unswerving support: 1) People first, life first; 2) External defense input, internal defense rebound; 3) Dynamic clearing , these three points cannot be ambiguous, and it is also our success in the past three years. the key.

4. The final goal, using two top-level words, two maximum degrees:

To protect people's lives and health to the greatest extent possible,

Minimize the impact of the epidemic on economic and social development.

Clear and loud.

China's fight against the epidemic has entered a new stage.

The good news is that, according to Li Bin, deputy director of the National Health and Medical Commission, the epidemic situation in Jilin and other places has been effectively controlled.

Just yesterday at the press conference of the State Council Information Office, a great expert Liang Wannian said, and I believe many of my friends have also seen it: Fighting against Omicron does not mean that the whole city must be tested for nucleic acid, much less that it must be Citywide lockdown.

This should also be very targeted.

According to the requirements of the central government, the mutation and spread of the virus have changed, and we really want to change, but the three insistences cannot be changed, and the goal cannot be changed.

Officials at all levels, do you understand? Everyone, do you understand?

The Shanghai Composite climbed back above long-term support after the May Day holiday today. (The chart below updates after the close.) The 3000 is both a psychological level and below long-term support. Next support would be around 2300.

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