Local state-owned assets dispose of distressed properties at low prices through judicial auctions.

Against the backdrop of a nationwide decline in both quantity and price in the real estate auction market, which is putting pressure on the real estate market, some state-owned enterprises have begun to appear on auction platforms, acquiring real estate assets on a large scale through "low-price sweeping". From Guangzhou Nansha to Haikou, Hainan, the presence of state-owned background buyers in the auction market has attracted attention. Some industry insiders have stated that the actions of state-owned enterprises are not only driven by the opportunity to acquire high-quality assets at low cost during a market downturn, but also by the consideration of taking over problematic assets and alleviating local market pressures.