Recently, multiple regions have convened meetings to focus on stabilizing growth in the fourth quarter, with a series of deployments centered on expanding domestic demand and stabilizing the real estate market to ensure the completion of the annual economic and social development goals and tasks. Experts have indicated that as incremental policies at the central level are introduced successively, localities will also seize the window period to "digest and absorb" these policies and study the introduction of local supporting policies to form a combined force with the central government.

Incremental policies are being implemented through various channels. As the year's economic operation enters its final quarter, many regions have held economic stability meetings to express determination and set goals, sounding the "charge" for economic growth.

As a major economic province, on October 8th, the Zhejiang Provincial Committee of the Communist Party of China held a meeting, proposing to strengthen confidence and determination, strive to take on major responsibilities, and fully promote the sustained and strong economic growth of the province, as well as improve quality and efficiency. On the same day, the Liaoning Province's mobilization and deployment meeting for the fourth quarter's sprint to win the battle was held in Shenyang. The meeting pointed out that the fourth quarter is a season for charging and deciding the outcome, and it is necessary to win the battle with a fighting spirit of charging and sprinting.

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In addition, many regions are planning to introduce incremental policies to form a combined force with central policies. On October 14th, the Guangdong Provincial Committee's Financial and Economic Committee meeting and the third-quarter economic situation analysis meeting were held, indicating that it is necessary to adhere to reform to empower high-quality development, focus on stabilizing growth and promoting development, and accelerate the introduction of a batch of mature and tangible reform measures. It is determined and effortful to deeply promote supply-side structural reforms. Jiangsu Province stated that it will earnestly implement the financial, financial, land, real estate, investment, consumption, and livelihood policies and measures introduced by the central government, fully utilize and make good use of existing policies, introduce incremental policies in a timely manner, and promote the full release of policy effects.

Experts have said that this round of incremental policies is multifaceted, with deployments in consumption, real estate, and the stock market. As various policies are intensively and collaboratively strengthened, the economic operation in the fourth quarter is expected to further rebound and improve.

Unleashing the potential for domestic demand growth. Domestic demand is an important force in driving economic growth. Many places have focused on promoting consumption and expanding domestic demand.

Combining consumption promotion with people's livelihoods, bulk consumption and service consumption have become "frequent words" in many regional meetings. Guangdong Province stated that it is necessary to focus on stimulating domestic demand, prioritize expanding consumption, and strive to boost bulk consumption, expand service consumption, and cultivate new types of consumption. Anhui Province clearly stated that it is necessary to combine consumption promotion with people's livelihoods, deeply promote the exchange of consumer goods for the old, amplify the consumption hotspot effects of festivals, events, and exhibitions, and create a batch of new consumer scenes and new business formats with strong driving force and high visibility.

Wang Peng, a research fellow at the Beijing Academy of Social Sciences, said that combining consumption promotion with people's livelihoods is a win-win policy orientation. It can not only meet people's consumption needs and improve their quality of life and happiness but also promote economic growth.Expanding investment to create more physical quantities has also become a major focus for local economies. Guangdong Province has proposed to make significant efforts to expand effective investment, accelerate the implementation of "two heavy" projects, and speed up the construction of supportive and symbolic projects such as the "hundred, thousand, ten thousand project" and the focus on manufacturing. Liaoning Province has stated that it will focus on expanding effective investment, deeply implement 15 major projects, and accelerate the start of new projects while continuously planning and reserving projects.

"Make full use of various funds this year, and we are currently accelerating the progress of project construction and fund disbursement. Accelerate the issuance and use of local government special bonds to support the start of projects." Zheng Shanjie, the director of the National Development and Reform Commission, recently stated.

Comprehensive Measures to Stabilize the Housing Market

A comprehensive set of policy measures to promote the stabilization of the real estate market has been reflected in the policy documents and meeting content of many places.

On October 10, Shandong Province issued the "Notice on Implementing Financial Support Policies to Promote the Stabilization of the Provincial Real Estate Market," which proposed four measures on the demand side, including a unified minimum down payment ratio for personal housing loans, and 11 measures on the supply side, including supporting qualified enterprises to marketize the acquisition of real estate company land.

Many places have focused on deploying the construction of a new real estate development model. Guangdong Province has proposed to solidly promote the stable and healthy development of the real estate market, implement a series of central policies, and further activate the real estate market from both the supply and demand sides according to the requirements of strictly controlling the increment, optimizing the stock, and improving the quality, to promote the market's stabilization; at the same time, it aims to build a new model for real estate development in the long term to promote high-quality development of real estate.

The executive meeting of the People's Government of Henan Province held on October 9 proposed to implement and refine policies and measures to further promote the stable and healthy development of the real estate market, to promote the market's stabilization, and to accelerate the construction of a new real estate development model.

"Promoting the stable development of real estate is a systematic project that requires the joint efforts of various policies. We will continue to strengthen the coordination of fiscal policy with other policies, the linkage between the central and local governments, and the connection between new and old policies, to play a combination of punches, and unswervingly promote the stabilization of the real estate market." Liao Min, the deputy minister of finance, previously stated.