Xing Ziqiang: If the real estate market does not achieve stabilization and cessation of decline, it will be difficult to overcome issues such as weak consumption.

Morgan Stanley's Chief Economist in China, Xing Ziqiang, stated that despite signs of new qualitative productivity emerging, referring to historical experiences in the United States, Japan, and Europe, if the real estate market cannot stop declining and stabilize, entering a new stable state, relying solely on advanced manufacturing and self-improvement in technology, it will be difficult to break the cycle of low prices, weak consumer demand, and other dilemmas.