Li Yunze: Continuously promote the stabilization and recovery of the real estate market.

Li Yunze, director of the China Banking and Insurance Regulatory Commission, stated at a press conference held by the State Council Information Office that, at the same time, we are actively helping to resolve risks in the real estate and local debt. We are continuing to push the real estate market to stop falling and stabilize. We are taking multiple measures to stabilize financing, providing over 1.6 trillion yuan in financial support for the "Three Major Projects" including guaranteeing housing, with an annual average increase of 52% in loans for rental housing. We are leading the establishment of a coordination mechanism for urban real estate financing, with loans for "white list" projects exceeding 7 trillion yuan, supporting the construction and delivery of nearly 20 million housing units, effectively protecting the legitimate rights and interests of a large number of homebuyers. We are also supporting the resolution of local debt risks, guiding financial institutions to strictly abide by the red line of not adding hidden debts, and legally and compliantly conducting debt restructuring and replacement for financing platforms, helping localities develop by resolving debts and developing through debt resolution.