CITIC Securities: Shenzhen relaxes real estate regulation with greater intensity than Beijing and Shanghai.

CITIC Securities Research Report stated that on September 5th, Shenzhen introduced new policies in the property market, adjusting the housing purchase restriction policy and housing credit policy. This new policy in the property market has significantly relaxed the restrictions on non-core areas, and at the same time, commercial loan interest rates will no longer differentiate between first-time and second-time home buyers. In terms of the relaxation of purchase restrictions, the new policy in Shenzhen this time is more significant than the policies introduced in August in Beijing and Shanghai.