Test drive all Lynk & Co models and experience the joy of acceleration and handling

New Beijing News (reporter, Chen Xiaobing)On April 21, at the first large-scale test drive meeting of the Lynk & Co brand in Beijing in 2019, reporters from the Beijing News experienced the driving control, off-road, and acceleration performance of Lynk & Co 01, 02, and 03.


Lynk & Co is a high-end brand jointly built by Geely Automobile and Volvo Cars. It has brought a refreshing feeling to everyone with three highly competitive models within two years, and the price of the joint venture brand has shown no less than that of the luxury brand.


This time, the experiencer will test drive three production cars under Lynk & Co according to different test drive projects. Among them, for the Lynk & Co 01 and Lynk & Co 03 cars, they both experience emergency avoidance after rapid acceleration of the site and high-speed pile winding.



Lynk & Co 01 is the first model developed by the Lynk & Co brand based on the basic module architecture of the CMA mid-range car. It is a compact urban SUV with good handling and riding space, and a good driving feeling. In the rapid acceleration and high-speed winding pile with limited space, the direction is accurate and clear, the body inclination angle is small, and the controllability is high, which can well complete the driver’s operation instructions. Although it is an SUV model, it still has a sedan-like handling feeling.


Lynk & Co 03 is the latest car product of the Lynk & Co family. It is equipped with the Drive-E series 1.5TD high-efficiency engine jointly developed by Volvo Cars and Geely Automobile and the high-efficiency power combination of 7DCT wet dual-clutch transmission. The maximum power is 180ps, and the torque output can reach 140N · m at 1000rpm, and the acceleration time from 0 to 100km/h is only 7.9s.

It is also a test drive subject that avoids the ground after rapid acceleration, and the experience that Lynk & Co 03 brings to drivers and passengers is completely different from that of Lynk & Co 01. After stepping on the accelerator pedal, the rapid acceleration is more rapid and direct, and you can feel the surging power continuously pushing the body forward; the emergency braking distance is also very short, and the emergency avoidance after that is flexible and controllable. In the subsequent high-speed pile winding process, Lynk & Co 03 performed more flexibly and satisfactorily than its fellow senior brother Lynk & Co 01. The driver can maintain high speed and shuttle left and right between cones and barrels to change lanes, and the vehicle can be controlled freely and at will.


The Lynk & Co 02 that day’s test drive was an intelligent four-wheel drive coupe SUV. The test drive items were undulating roads and bilateral bridges, testing an SUV’s passability and four-wheel drive performance. For the Lynk & Co 02, which was equipped with BorgWarner’s fifth-generation intelligent four-wheel drive, the driver had to control the vehicle’s center of gravity by stabilizing the steering wheel when the vehicle swayed through simulated undulating roads. The rest was left to the intelligent four-wheel drive system.


Beijing News reporter, Chen Xiaobing, photo photography, Chen Xiaobing, editor, Zhang Bing, proofreading, Liu Baoqing


Which key to press for Apple’s computer switching system [method introduction]

  From mobile phones to computers, Apple has made its own style, unique shape design, unique system and unique security management. Many users will also install two systems on their own Apple books, so that they can better use Apple computers. For old Apple users, they can skillfully master the switching between the two systems, but for those who have just come into contact with Apple computers, they will not be so handy. Today, let’s explain which key is pressed by Apple’s computer switching system and how it works.

  Many people are not used to the Macos system of Apple computers, especially after frequently using win7 and xp systems, people’s thinking habits have stayed on windows, so many Apple computers are equipped with dual systems, which are convenient for work and switching. Let’s talk briefly about how to switch from Apple system to windows system.

  Press Opiton key to enter disk switching when booting.

  When starting or restarting the computer, press and hold the Opiton key, that is, Alt key, for 2~3 seconds, and it will switch to the display screen, and select windows disk to start, so it is simple to switch to the windows system.

  Has entered the Apple system and then switched to the windows system.

  When you have entered the Apple system, you can switch to the windows system without restarting the computer. Select "System Preferences" on the computer desk.

  Enter the "System Preferences" interface and select the "System" column-> "Boot Disk".

  Select "windows Disk" in the pop-up startup disk dialog box, and then click the "Restart" button below. When you re-enter the system, it is the windows system.

  You can also click the "Apple" icon at the top of the desktop, enter "System Preferences", and then enter the startup disk to start the windows system.

  Operation steps:

  Press the power button to start the machine, and the sound of starting the machine will remind you. When the screen appears gray, press the Option button immediately, and then let go until the system startup selection interface appears. Then the system selection interface will appear. Press the left and right arrow keys to select the system we need to start. After selecting it, click with the left mouse button directly or press Enter to confirm.

  Apple officials and websites basically use the phrase "hold down the Option button when turning on the phone", and rarely specify when it is most appropriate to press this button. In fact, users who have used Apple for a period of time will have some such experiences. Sometimes we haven’t pressed the Option key, and it has entered the system by default. Or sometimes we press it for a long time, only to find that the screen has been in a gray state. In both cases, it is basically because we pressed the Option key late. When this happens, we can only restart it or turn off the power button and then restart it. Some users who are new to Mac have no idea about how long this Option button will be pressed, thinking that it is enough to press it once, and it is not enough to let go when it is turned on.

  Try and see if you can switch!

  Installing dual system on Mac is a very common system selection scheme. Switching between dual systems is not unfamiliar to users who use Mac, but for many users who are new to Mac system, there are also many who don’t know how to switch between dual systems and how to set the default entry system. Although it is only a small skill, users who are new to the Mac system will have some trouble if they don’t know this.

  There are also several ways to switch between two systems and set the default startup of the system.

  First, press the Option key when booting.

  This method is the most used method and the most commonly used method. This is actually very simple, that is, after booting, keep pressing the Option key until the system selection interface appears, press the left and right arrow keys to select the system we need to start, and then click with the left mouse button directly or press Enter to confirm.

  Some points to note:

  The time when the Option key was pressed.

  Apple officials and websites basically use the phrase "hold down the Option button when turning on the phone", and rarely specify when it is most appropriate to press this button. In fact, users who have used Apple for a period of time will have some such experiences. Sometimes we haven’t pressed the Option key, and it has entered the system by default. Or sometimes we press it for a long time, only to find that the screen has been in a gray state. In both cases, it is basically because we pressed the Option key late. When this happens, we can only restart it or turn off the power button and then restart it.

  There are also some users who are new to Mac, and they don’t have an idea about how long this Option key will be pressed. They think that it is enough to press it once, and it is not enough to let go when it is turned on. )

  Generally speaking, the best time to press the Option key is after pressing the power button, when the boot sound comes to mind, press the Option key immediately when the gray screen appears on the screen, and then loosen it until the system startup selection interface appears.

  For notebook users or users who use wired keyboards, this is actually very simple. We just need to hold down the Option key, and then press the power button to boot until the system startup selection interface appears.

  Users who use iMac actually need some skills, because iMac comes standard with a wireless keyboard. Before the system is started, the keyboard and the computer have not been connected directly, so it is useless to press the Option key at this time, but if you press it late, it will easily lead to staying in the gray screen interface or directly entering the system. Therefore, users of iMac system should grasp the time of pressing the Option key as mentioned above.

  There are many ways for Apple computers to switch systems. The most common way is to press the option button all the time after our Apple computers are turned on, and then the system will display the interface for selecting systems. We just need to select the system we want to enter and press Enter. We can also choose to boot by default in the system settings of Apple computer, and choose our commonly used system, so that we can avoid the step of switching systems. Apple computer switching system can be realized by pressing the option button, which is very simple and fast.

Comment on Exhibition | "Old Man Older than Us" Where did Huang Yongyu’s early optimistic innocence go?

[Editor’s Note] The column of "The Paper Art Review" comments on recent hot exhibitions with personal exhibition experience and independent perspective. The critical exhibitions include "Huang Yongyu Zodiac Art Exhibition" in National Museum, "Peng Wei’s solo exhibition: I think of you" in Suzhou Museum and "Song Dong: I don’t know destiny" in Shanghai Bund Art Museum. Contributions are welcome in this column, and the remuneration is preferential. It is required to express feelings, have substance in words, form an article or speak in a few words. The submission email address: dfzbyspl@126.com, and the email title should be marked with "surging exhibition evaluation".

Twelve Twelve Months: Huang Yongyu Zodiac Art Exhibition

Venue: National Museum (Beijing)

Time: January 19-February 12, 2017

Ticket price: free of charge

Comments: First of all, Huang Yongyu, a 90-year-old painter, should be congratulated for holding an exhibition. Besides, Huang Yongyu’s zodiac paintings do have a unique sense of humor. Huang Yongyu’s most famous Zodiac paintings are the monkey tickets for the Year of Gengshen drawn in 1980. It is said that there is a huge room for appreciation. Huang Yongyu’s subsequent painting market is also booming, becoming an old man with much more money than "those old men who are older than him". It seems that an exhibition will be held in the National Museum every year in recent years. However, congratulations go back to congratulations. Some of Huang Yongyu’s Zodiac paintings are really talented and ingenious, but compared with his Gengshen monkey paintings, they lack an inherent simplicity. In the final analysis, these Zodiac paintings on display are still just cartoons, and most of the satire lacks connotation and aftertaste, and the calligraphy style of the inscription is artificial. For example, in the painting, a fat pig is painted, and the inscription is "People lose weight themselves but are afraid that I will lose weight", and the mouse is pointed at a cat with a big belly and pregnancy. Compared with their early paintings, these paintings are bright and simple, which makes people sigh!

Huang Yongyu’s early woodcut works are full of talent, folk decoration, and an optimistic innocence, which was once admired by Wang Zengqi. When he was young, he was very friendly with Wang Zengqi and Huang Shang, and developed in his later years. It is said that he loved to show off and his pen and ink seemed to be frivolous.

澎湃 star rating: two stars

Poster of Huang Yongyu Zodiac Exhibition

On the eve of the Lunar Year of the Rooster, Huang Yongyu held a "Zodiac Painting Exhibition" in the National Museum, in which he showed 168 paintings of the Zodiac in the last 12 years (12 paintings of the Zodiac are created every year, which are assembled into a monthly calendar, plus the cover painting and the explanatory text of Huang Yongyu’s calligraphy, totaling 14 paintings every year).

Huang Yongyu painted the zodiac monkey.

Peng Wei solo exhibition: I think of you.

Venue: Suzhou Museum

Time: January 14-March 12, 2017

Ticket price: free of charge

Comments: As a young female artist, Peng Wei, who is obsessed with ancient charm and physical properties, has a kind of aura, which can be felt from the exhibition itself in Suzhou Museum even if she doesn’t look at her works. Wu Hongliang, the curator and director of the Art Museum of Beijing Academy of Painting, has a kind of persistent thinking about the presentation of the exhibition hall effect. As he said, "Your (Peng Wei’s) works often give people the impression of being too clever and too relaxed. So, I was a little worried at first when I looked at your paintings, but I got in touch with you, listened to you, and understood what you were thinking. It turned out to be really like this, and I was relieved as a friend. Therefore, this exhibition, just do it with your heart. " It should be said that this exhibition has achieved Mr. Wu Hongliang’s goal, and the ancient charm and modernity of the paintings are also in good agreement with the atmosphere of Suzhou Museum. However, going back to the painting itself, Peng Wei’s strength is cleverness, and her weakness seems to be cleverness. As far as landscape painting is concerned, the lines of pen and ink still need to be improved, and the pursuit of Mo Yun and artistic conception can still be deepened. However, the artist is still young and there is still a long way to go.

澎湃 star rating: Samsung and a half

"Peng Wei solo exhibition: I think of you" exhibition site

After the Renaissance sketch exhibition in the British Museum, the modern hall of Suzhou Museum has once again undergone a poetic transformation. Peng Wei, an artist, with more than 50 works in the past five years, has created a dialogue field that blends Chinese and western cultures with ink in the garden space designed by I.M. Pei.

Installation works

This exhibition, curated by Wu Hongliang, deputy director of the Art Museum of Beijing Academy of Painting, is the first appearance of Peng Wei’s new series "Ya Yi" and the boldest exhibition of Subo Modern Hall: the whole space will be wrapped in translucent materials and divided into continuous spaces, based on the texture of the silk used by Peng Wei’s well-known "yes man", inspired by the twists and turns of Suzhou gardens and the geometric straight lines designed by I.M. Pei in Suzhou Museum.

Song Dong: I don’t know my destiny

Venue: Shanghai Bund Art Museum

Time: January 21-March 26, 2017

Ticket price: 30 yuan

Comments: It is said that this is a grounded exhibition of Shanghai Bund Art Museum. The mirror that permeates the walls, the window frames that make up the room, and the slogan "Don’t do it for nothing", Song Dong used these daily things to occupy the whole exhibition hall space. At the opening session of the exhibition, the artist invited guests to eat the whole city made of biscuits. However, I heard that there are many rats in the Bund Art Museum. In case a diner sees a small footprint on a half-bitten wafer, how to react at this time may test everyone’s wisdom. As a performance art, such "eating a city" may still be a gimmick.

澎湃 star rating: Samsung and a half


In the art season, Song Dong is decorating a biscuit house, and "Eating a City" is one of the opening activities.

When the curator went to greet the reporters attending the press conference, the artist Song Dong still stayed in his biscuit house, and built a tall building with sticks, pizza and waffles. The whole building of the Bund Art Museum was filled with a strange smell of cream. Song Dong filled the Bund Art Museum with his 66 works, which also made this space, which always seemed quite cold, lively.

Exhibition 6 th floor space

This is perhaps the most grounded exhibition in the history of the Bund Art Museum. The mirror that permeates the walls, the window frames that make up the room, and the slogan "Don’t do it for nothing", Song Dong used these daily things to occupy the whole exhibition hall space. On a certain floor, the audience will face the queuing guardrail that is often used in public places, which is covered with daily propaganda slogans. It takes a long time to walk around the guardrail before entering the end of the room, where there stands a square monument without words. In a thousand words, or without a word, daily life invades the space of the art museum, calling for wisdom from Chang Min.

Although the contents of the exhibition are uneven and polymorphic, the artist himself has not made a condescending gesture. In "Thirty-six Calendars", he tells his own story frankly, such as growing up, falling in love, the arrival of children, attending exhibitions, and his mother falling to save a bird. In another place, the artist hangs his own photos in a small space, as if it were his own living room, and 50 enlarged dolls show the artist’s self-disclosure.

A calendar in "Thirty-six Calendars" tells that my mother fell to save a bird.

Each floor of the art museum has been turned into a theater with an independent theme, and at the same time, some spaces are connected with each other. Artists have also made some arrangements in the unconventional exhibition space of the art museum, and the audience may have some special experiences.

More exhibition information:

James Terrell retrospective exhibition

Venue: Shanghai Long Art Museum (West Coast Pavilion)

Time: January 22–May 21, 2017

This exhibition covers the artist’s works of art in the past 50 years, including his representative lighting and space installations and selected photography and printmaking works. Terrier’s brand-new site-specific works based on the spatial design of the Dragon Art Museum will also be highlighted in the exhibition.

Auspicious Antai: Exhibition of Welcome Paintings and Calligraphy by Famous Maritime Artists

Venue: Duoyun Art Museum

Time: January 18th-February 8th, 2017

On the occasion of resigning the old year and welcoming the new year, Duo Yunxuan brought calligraphers Liu Xiaoqing, Liu Yiwen, Zhang Weisheng and Ding Shenyang, painters Gong Jixian, Yang Zhengxin, Che Pengfei and Le Zhenwen, seal engravers Lu Kang, Sun Weizu, Wu Chengbin and Yuan Huimin with auspicious and auspicious paintings and calligraphy exhibitions. I wish you good luck and peaceful future!

It’s warmest here in the New Year.

Venue: apparent horizon Art (Shanghai Red Square)

Time: January 21st-February 15th, 2017

In this exhibition, courtyard furnishings, desk ornaments and modern sculpture installations are displayed side by side. Among them, two huge sculptures show the artistic features of the artist Pin Mi, and there are also works by Inoue, Ding Xiongquan, Ding Liren, xia yang, Yao Xingwen and Qin Yifeng.


Buddhist Biography in Vietnam and Southeast China: Buddhist Events, Scenery and Relic

Venue: Gushan Hall, Zhejiang Provincial Museum

Time: January 13-March 27, 2017

The 111 pieces (groups) of Buddhist relics exhibited in the exhibition are mostly from pagodas, underground palaces, kiln sites and tombs in Southeast Zhejiang Province. Most of the gold and copper statues unearthed from pagodas in the period from Wu Yueguo to Song, Yuan and Ming Dynasties, as well as other Buddhist statues, scriptures, relic containers, and Brahma bells and chimes used in temples, especially the gold and copper statues in the period of Wu Yueguo in the Five Dynasties have the largest number and the most content.

Let go of the hills and valleys: an exhibition of landscape paintings by Xin’ an painting school

Venue: Wulin Hall, Zhejiang Museum

Time: January 21st-February 19th, 2017

This exhibition will display 70 pieces (groups) of Xin ‘an Painting School’s works from Anhui Museum and Zhejiang Museum, showing the artistic style and development process of this painting school. The exhibits include Sun Yi’s "A Picture of a Creek", Cheng Sui’s "Walking Alone to Autumn Mountain", Jian Jiang’s "A Picture of a Happy Forest" and Cha Shibiao’s "A Picture of a Landscape Imitating Yuan People".


Happy ever after: Beijing-Tianjin-Hebei Ancient Life Exhibition (Art)

Venue: Tianjin Museum

Time: January 20th-February 19th, 2017

This exhibition is jointly organized by the Capital Museum, Tianjin Museum and Hebei Museum. More than 190 ancient artworks collected by the three museums will be exhibited, including more than 90 first-class and second-class cultural relics, presenting the artistic life and spiritual world of ancient people in Beijing, Tianjin and Hebei. The exhibition shows literati paintings, porcelain, lacquerware, and unearthed cultural relics from kiln sites in Beijing, Tianjin and Hebei.


Art Home: Hidden House inshow Art Collection Exhibition

Venue: Yinshe inshow Art Center, Shenzhen

Time: January 18th-March 10th, 2017

In addition to the works of Xu Hongfei, Hu Jiefeng, Lu Zengkang, Gu Cunyan, Matsuo Ichiro, Xu Yuling, Matsui Kakuko, etc., this exhibition also presents modern epigraphy and calligraphy of Qi Baishi, Chen Julai and Wang Fuchang, aiming at guiding urbanites to learn, appreciate and collect their lifestyles.

New Zealand:

Zeng Sankai and Wang Li’s two-person exhibition of ink and wash at the stop of the sea

Venue: Blue Butterly Art Space, Auckland, New Zealand

Time: January 18th-February 20th, 2017

This exhibition is planned by Jin Jiangbo, an artist and curator, and shows more than 40 works recently created by two China artists. Among them, Zeng Sankai used books to paint, and he was good at exploring the true meaning of China landscape in brushwork; The characters in Wang Li’s works are quite interesting, which shows his artistic ideal of lifting weights easily.

Real estate policy timely adjustment and optimization.

  Core reading

  In order to adapt to the new situation that the relationship between supply and demand in China’s real estate market has undergone major changes, recently, many places and departments have issued intensive documents to adjust and optimize real estate policies in a timely manner, which will better meet the rigid and improved housing needs of residents, and will also have a favorable impact on expanding consumption, stimulating investment and stabilizing economic growth.

  On August 30th, Guangzhou City and Shenzhen City of Guangdong Province successively announced the implementation of the policy of "recognizing houses but not loans". On September 1, Shanghai and Beijing also announced the implementation of this policy.

  On August 31st, the People’s Bank of China and the State Financial Supervision and Administration jointly issued a notice, which unified the minimum down payment ratio of the first and second sets of commercial personal housing loans to be no less than 20% and 30%. At the same time, reduce the interest rate of the first home loan in stock.

  Experts pointed out that in recent days, many departments have issued intensive documents, adjusted and optimized real estate policies in a timely manner, and released positive signals to promote the stable and healthy development of the real estate market.

  The policy plays a "combination boxing" to better meet the rigid and improved housing needs of residents.

  The policy of "recognizing the house but not the loan" is clear. When households (including borrowers, spouses and minor children) apply for loans to buy commercial housing, if family members do not have a complete set of housing in the local name, banking financial institutions will implement the housing credit policy according to the first set of housing, regardless of whether they have used loans to buy housing.

  "For families who need to change rooms, in ‘ Admit the house but not the loan ’ Under the policy, houses can be exchanged at a lower down payment ratio and a more favorable loan interest rate, and the preferential period of personal income tax rebate for residents to purchase houses has also been extended. These policies will help reduce the cost of buying houses and release the demand for changing houses. " Pu Zhan, deputy director of the Policy Research Center of the Ministry of Housing and Urban-Rural Development, introduced.

  Jiang Nan has worked in Guangzhou for more than 10 years. In 2015, just before she got married, she first bought a wedding room in Foshan City, Guangdong Province, and rented it out after simple decoration, while she rented a house in Guangzhou. In the past two years, seeing that the children have reached the age of going to school, the desire of Jiang Nan and his wife to buy a suite in Guangzhou has become stronger and stronger.

  "I saw more than a dozen sets of second-hand houses, and I was satisfied. Almost all of them cost more than 6 million yuan. Before that suite in Foshan also had a loan, now I want to buy this suite, with a down payment of 40% and a loan interest rate of 4.8%. " Jiang Nan said that according to the new policy of "recognizing the house and not recognizing the loan", the down payment is only 30%, and the down payment is less than 10%, which is more than 600,000 yuan; Moreover, the loan interest rate enjoys 4.2% of the first suite interest rate, and the monthly supply burden can also be reduced a lot.

  Ms. Huang, a citizen of Shenzhen, also expressed a similar idea: "We have always wanted to change a bigger house and improve our living conditions. However, if it is identified as a second suite, the down payment ratio is high and it is difficult to bear. After the introduction of the New Deal, the pressure is much smaller. "

  Gao Yuan, president of Beijing Chain Home Research Institute, believes that "recognizing houses but not loans" mainly benefits new citizens and improved groups in Beijing. In terms of new citizens, it is more common that they have no house in Beijing, but they have had a credit record of buying a house in other places. Under the original standard, they have to pay 60% (ordinary house) or 80% (non-ordinary house) down payment for buying a house in Beijing; In terms of improved groups, it is beneficial to "sell one and buy one" to improve the replacement groups. Due to factors such as family structure changes, child care and old-age care, nearly 70% of buyers in the current Beijing residential market belong to improved demand.

  What is the market reaction after the introduction of policies such as "recognizing houses but not loans"? Lou Chunlei, manager of an active regional store in Chaoyang District, Beijing Chain Home, told reporters that after Beijing announced the policy, we received many customers’ consultation calls one after another. In the first two months, the number of online consultations was generally more than 20, and this weekend it increased to more than 60, and the number of regional listings was also active. "The price of the target room type of our improved customers is mostly between 8 million yuan and 10 million yuan. Before looking at the house, considering that 80% of the second-home down payment was hesitant, now the policy has landed, and many customers have chosen to list the property to obtain the first set of qualifications. " Yan Chunlei said.

  According to the data provided by RealData, the average daily turnover of second-hand houses in Guangzhou and Shenzhen increased by 25% and 70% respectively from August 30 to 31, compared with last week (August 21 to 27), and the number of customers taking care of them also increased rapidly.

  Not only the policy of "recognizing the house but not the loan", but also the policies of adjusting and optimizing differentiated housing credit and reducing the interest rate of the first home loan in stock will also help to better meet the demand for rigid and improved housing.

  According to the relevant persons in charge of the People’s Bank of China and the General Administration of Financial Supervision, the key points of the adjustment and optimization of differentiated housing credit policy include two aspects: First, unify the lower limit of the national minimum down payment ratio policy for commercial individual housing loans. No longer distinguish between cities that implement "restricted purchases" and cities that do not implement "restricted purchases", and the lower limit of the minimum down payment ratio of commercial personal housing loans for the first home and the second home is unified to not less than 20% and 30%. The second is to adjust the lower limit of the second set of housing interest rate policy to not less than the loan market quotation rate (LPR) of the corresponding term plus 20 basis points. The lower limit of the first set of housing interest rate policy is still not less than the corresponding period LPR minus 20 basis points. All localities can independently determine the minimum down payment ratio and the lower interest rate limit of the first and second houses within their jurisdiction according to the principle of city-specific policies and the local real estate market situation and regulatory needs.

  The real estate market as a whole has turned into a buyer’s market where supply exceeds demand.

  The real estate chain is long and involves a wide range, which can be said to lead the whole body.

  In the second quarter of this year, affected by the macro-environment, residents’ ability and willingness to buy houses declined, and the recovery of buying houses as a bulk consumption lagged behind, and the growth rate of real estate market turnover slowed down. From January to July, the sales area of commercial housing was 665.63 million square meters, a year-on-year decrease of 6.5%; The newly started housing area was 569.69 million square meters, down by 24.5%.

  On July 24th, the Political Bureau of the Communist Party of China (CPC) Central Committee held a meeting and pointed out that it is necessary to effectively prevent and resolve risks in key areas, adapt to the new situation that the supply and demand relationship in China’s real estate market has undergone major changes, adjust and optimize real estate policies in a timely manner, and make good use of the policy toolbox to better meet the rigid and improved housing needs of residents and promote the stable and healthy development of the real estate market.

  Yu Xiaofen, Dean of China Institute of Housing and Real Estate, Zhejiang University of Technology, analyzed that the relationship between supply and demand in the real estate market has undergone major changes, mainly in three aspects: First, it has shifted from the seller’s market to the buyer’s market. After more than 20 years of large-scale development, the per capita housing construction area of urban residents in China has exceeded 41 square meters in 2022. Due to the negative growth of superimposed population and the middle and late stage of urbanization, the market as a whole has turned into a buyer’s market with oversupply, especially in small and medium-sized cities, where the inventory of commercial housing is large and the cycle of de-melting is long. The second is to shift from an incremental market to a stock-based market. In many cities, the growth rate of stock housing transactions is faster than that of new commercial housing sales, and the turnover of second-hand houses in some cities has exceeded that of new houses. Third, the proportion of existing home sales has steadily increased from auction sales to existing home sales.

  "Adapting to the new situation that the relationship between supply and demand in China’s real estate market has undergone major changes, the implementation of a series of policies and measures in recent days can not only better meet the rigid and improving needs of residents, but also have great significance for expanding consumption, stimulating investment and stabilizing economic growth." Yan Xiaofen believes.

  Dong Ximiao, chief researcher of Zhaolian, said that according to relevant calculations, the average decline in the interest rate of the first home loan was about 80 basis points. Take the stock mortgage with a term of 1 million yuan, 25 years and the original interest rate of 5.1% as an example. Assuming that the mortgage interest rate is reduced to 4.3%, the borrower’s repayment expenditure can be saved by more than 5,000 yuan per year, which will help reduce the housing consumption burden and increase the consumption and investment capacity of residents.

  To promote the stable and healthy development of the real estate market, we need to be patient in many ways.

  Experts interviewed said that the current timely adjustment and optimization of real estate policies has opened the market expectation window. In the short term, just-needed and improved demand will be concentrated in the market, and the market transaction volume may increase significantly before the end of the year. However, as a whole, the relationship between supply and demand in the real estate market has changed greatly, and it is greatly influenced by the macro environment. To look at the development of the real estate market with a more rational attitude, we must have both confidence and patience.

  "When the overall development of the market slows down, the positive side will be particularly noticeable. For example, some markets will be more resilient and new business opportunities will emerge." Yu Liang, Chairman of Vanke’s Board of Directors, believes that the urbanization rate in China is about 65% at present, and it is expected to reach 70% in 2030, and the urban population will increase to about 980 million. According to the construction experience, it is conservatively estimated that the newly started real estate area of 1 billion to 1.2 billion square meters in the future is guaranteed.

  Yu Liang said that according to the experience of London, Tokyo and other cities, the population will continue to concentrate in cities that can create jobs. Even after the market is fully mature, there will still be a large number of urban renewal projects in the central city to enhance the development vitality of traditional areas and meet the needs of job-residence balance. In addition, the construction of affordable rental housing, the renovation of villages in cities, and the construction and operation of real estate agents will also be important business growth areas in the future.

  "The current policy is already exerting strength. I believe that with the joint efforts of all parties, as the economic operation continues to improve and the expectations for the future gradually stabilize, the market will return to a healthy and reasonable level." Yu Liang said.

  Yan Xiaofen believes that in the medium and long term, to promote the stable and healthy development of the real estate market, we need to focus on both supply and demand: stabilize the market scale by accelerating the start of urban renewal and urban village transformation; By lowering the mortgage interest rate and expanding the coverage of housing provident fund, we will strive to improve the housing consumption capacity, relax the purchase restriction in big cities or districts where the relationship between housing supply and demand has undergone major changes, and stabilize market demand; By comprehensively promoting the "mortgage transfer" of second-hand houses, reducing transaction deed tax and reasonably reducing real estate agency fees, we will encourage trade-in and promote a virtuous circle of the market; Support high-quality state-owned housing enterprises and high-quality private housing enterprises equally, appropriately relax the restrictions on development conditions and stabilize real estate enterprises.

  The relevant person in charge of the Ministry of Housing and Urban-Rural Development said that we will continue to focus on increasing confidence, preventing risks and promoting transformation to promote the stable and healthy development of the real estate market. Because of the city’s policy and precise policy, we will vigorously support the demand for rigid and improved housing, solidly promote the work of ensuring the people’s livelihood and stability, resolve the risk of corporate capital chain breakage, strive to improve quality, build a good house, rectify the order of the real estate market, and let the people buy houses and rent houses with confidence.