ON NOVEMBER 30, THE REFERENCE NEWS WEBSITE REPORTED THAT ON NOVEMBER 28, ACCORDING TO THE WEBSITE OF SINGAPORE'S LIANHE ZAOBAO, THE NATIONAL DEVELOPMENT AND REFORM COMMISSION OF CHINA HELD A MEETING TO URGE LOCAL GOVERNMENTS TO PROMOTE THE SIGNING AND LAUNCHING OF POLICY ORIENTED DEVELOPMENT FINANCIAL INSTRUMENTS AND ACCELERATE THE CONSTRUCTION OF PROJECTS, SO AS TO FORM MORE PHYSICAL WORK AS SOON AS POSSIBLE.ACCORDING TO CHINESE MEDIA REPORTS ON NOVEMBER 28TH, LUO GUOSAN, DIRECTOR OF THE INVESTMENT DEPARTMENT OF THE NATIONAL DEVELOPMENT AND REFORM COMMISSION, PRESIDED OVER A NATIONAL VIDEO SCHEDULING WORK MEETING FOR FUND PROJECTS ON THE 25TH.THE MEETING REQUESTED THAT WE THOROUGHLY IMPLEMENT THE DECISION AND DEPLOYMENT OF THE STATE COUNCIL EXECUTIVE MEETING ON NOVEMBER 22, CONTINUE TO PLAY THE ROLE OF THE COORDINATION MECHANISM, AND CONCENTRATE OUR EFFORTS TO PROMOTE THE ACCELERATION OF THE CONSTRUCTION OF FUND PROJECTS AND THE PAYMENT OF FUNDS.THE MEETING MENTIONED THAT IT IS NECESSARY TO INCREASE DAILY SCHEDULING AND SUPERVISION OF KEY AREAS, INDUSTRIES, AND PROJECTS, STRIVE FOR ALL PROJECTS TO START ON SCHEDULE, AND ADJUST PROJECTS THAT CANNOT START ON SCHEDULE ACCORDING TO PROCEDURES; ORGANIZE AND CARRY OUT RELEVANT WORK ON "LOOKING BACK", URGE FUND PROJECTS TO ACCELERATE CONSTRUCTION, AND UNDERSTAND THE PROBLEMS THAT EXIST IN THE PROJECT IMPLEMENTATION PROCESS, AND SOLVE THEM IN A TARGETED MANNER; STRENGTHEN SUPERVISION, STRICTLY PROHIBIT FALSE CONSTRUCTION, AVOID FUND MISAPPROPRIATION, CREATE A CLEAN AND HONEST PROJECT, ENSURE THAT ALL WORK IS IN COMPLIANCE WITH LAWS AND REGULATIONS, WITHSTAND HISTORICAL TESTS, AND LEAVE NO SEQUELAE; FURTHER INCREASE THE PUBLICITY WORK FOR MAJOR INVESTMENT PROJECTS SUCH AS FUNDS, STRENGTHEN EXPECTATION GUIDANCE, AND BOOST INVESTMENT CONFIDENCE.THE MEETING ALSO PUT FORWARD REQUIREMENTS FOR DOING A GOOD JOB IN CENTRAL BUDGET INVESTMENT AND LOCAL GOVERNMENT SPECIAL BONDS, AS WELL AS PLANNING AHEAD FOR NEXT YEAR'S INVESTMENT WORK.IN ADDITION, IT WAS REPORTED ON THE WEBSITE OF THE SINGAPORE LIANHE ZAOBAO ON NOVEMBER 29 THAT THE CSRC DECIDED TO ADJUST AND OPTIMIZE FIVE MEASURES IN TERMS OF EQUITY FINANCING, WHICH WAS CALLED THE "THIRD ARROW" BY THE MARKET. POSITIVE NEWS INJECTED A SHOT IN THE ARM INTO THE STOCK MARKET, WITH CHINESE REAL ESTATE STOCKS RISING SHARPLY IN EARLY TRADING ON THE 29TH AND DRIVING THE STOCK MARKET UP.ACCORDING TO BLOOMBERG, THE HANG SENG CHINA ENTERPRISES INDEX HAS SEEN A TWO-WEEK INCREASE, WITH REAL ESTATE STOCKS SUCH AS COUNTRY GARDEN AND LONGFOR GROUP LEADING THE WAY IN GAINS. SOME REAL ESTATE COMPANY BONDS CONTINUED TO RISE ON TUESDAY, WITH COUNTRY GARDEN'S DOMESTIC AND FOREIGN BONDS GENERALLY RISING.ACCORDING TO THE REPORT, THE FIVE MEASURES TAKEN BY THE CHINA SECURITIES REGULATORY COMMISSION INCLUDE RESUMING MERGERS AND ACQUISITIONS OF LISTED REAL ESTATE COMPANIES AND SUPPORTING FINANCING, RESUMING REFINANCING OF LISTED REAL ESTATE ENTERPRISES AND LISTED REAL ESTATE COMPANIES. ANALYSTS BELIEVE THAT THE RAPID LANDING OF THE "THIRD ARROW" THIS TIME WILL HAVE A SIGNIFICANT BOOSTING EFFECT ON CONFIDENCE IN THE REAL ESTATE INDUSTRY, AND THE VALUATION OF THE SECTOR WILL BE RESTORED, WHICH IS MORE CONDUCIVE TO A-SHARE LISTED COMPANIES. PREVIOUSLY, CHINA HAD PROVIDED SUPPORT TO THE REAL ESTATE INDUSTRY IN AREAS SUCH AS BANK CREDIT AND BOND FINANCING.THE WALL STREET JOURNAL WEBSITE REPORTED ON NOVEMBER 29TH THAT CHINA HAS RECENTLY INTRODUCED MEASURES AIMED AT OPTIMIZING EPIDEMIC PREVENTION AND REVITALIZING THE SLUGGISH REAL ESTATE MARKET, WHICH HAS RAISED HOPES THAT CHINA IS EMPHASIZING STABLE GROWTH AND MAY STIMULATE A STRONG ECONOMIC REBOUND NEXT YEAR.AFTER SLOWING DOWN THIS YEAR, THE CHINESE ECONOMY IS EXPECTED TO RECOVER NEXT YEAR, BUT ECONOMISTS ARE SKEPTICAL ABOUT WHETHER IT CAN QUICKLY RETURN TO THE RAPID GROWTH PACE BEFORE THE PANDEMIC.THE PEOPLE'S BANK OF CHINA HAS STATED THAT IT WILL LOWER THE RESERVE REQUIREMENT RATIO FOR FINANCIAL INSTITUTIONS TO INCREASE LOANS TO HOUSEHOLDS AND BUSINESSES.ACCORDING TO REPORTS, ECONOMISTS FROM GOLDMAN SACHS PREDICT THAT WITH FURTHER LOOSENING OF EPIDEMIC PREVENTION POLICIES, THE CHINESE ECONOMY IS EXPECTED TO EXPERIENCE A CERTAIN DEGREE OF REBOUND IN THE SECOND HALF OF 2023.CHINA HAS FORMULATED AN ECONOMIC DEVELOPMENT BLUEPRINT, WITH A FOCUS ON INCREASING SELF-SUFFICIENCY IN FOOD, ENERGY, AND HIGH-TECH PRODUCTS, CURBING DEBT EXPANSION, AND REDISTRIBUTING WEALTH UNDER THE "COMMON PROSPERITY" POLICY.CHINESE E-COMMERCE GIANT JD.COM ANNOUNCED PLANS TO CUT THE SALARIES OF ABOUT 2000 MANAGEMENT PERSONNEL BY 10% TO 20% NEXT YEAR AND INCREASE THE WELFARE BENEFITS OF GRASSROOTS EMPLOYEES, BECOMING THE LATEST CASE OF THE COMPANY MOVING CLOSER TO THE "COMMON PROSPERITY" POLICY.ACCORDING TO REPORTS, THE CHINESE GOVERNMENT HAS ALSO ANNOUNCED 16 MEASURES TO SUPPORT THE REAL ESTATE MARKET, INCLUDING URGING BANKS TO PROVIDE LOANS TO STRUGGLING DEVELOPERS.