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on september 26, 2024, a shares opened slightly lower and then fluctuated higher. real estate now leads the gains of 31 shenwan first-level industries, and the real estate etf fund (515060) rose by more than 3%. among the holdings, hualian shares, shenzhen shenfang a, hefei urban construction, and financial street rose to the daily limit, while quzhou development, overseas chinese town a, urban construction development, and urban investment holdings ranked among the top gainers.

on the news front, on september 24, 2024, the state council information office held a press conference to introduce the relevant situation of financial support for high-quality economic development. real estate-related policies include (1) reducing the interest rate of existing mortgage loans; (2) unifying the minimum down payment ratio for mortgage loans; (3) increasing the central bank's funding support ratio for the 300 billion yuan affordable housing refinancing created by the people's bank of china in may from the original 60% to 100%; (4) extending the two policy documents, commercial property loans and "16 financial measures" that are due before the end of the year, to the end of 2026; and (5) supporting the acquisition of existing land by real estate companies.

wanlian securities believes that lowering the interest rates on existing mortgage loans will help ease residents' early loan repayments, reduce their loan repayment burden, and maintain the stable and healthy development of the real estate market: at the meeting, it was mentioned that commercial banks will be guided to lower the interest rates on existing mortgage loans to around the interest rates on newly issued loans. the average decline is expected to be about 0.5pct. it is expected that this policy will benefit 50 million households and 150 million people, reducing the total interest expenditure of households by about 150 billion yuan each year on average, which will help promote the expansion of consumption and investment, and will also help reduce early loan repayments, reduce illegal replacement of existing mortgage loans, and maintain the stable and healthy development of the real estate market.

public information shows that the csi all-share real estate index tracked by the real estate etf fund (515060) includes real estate leaders such as vanke, poly developments, and china merchants shekou, and has a comprehensive layout in real estate development, management, services and other industries.

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