Article/Tan Haojun, columnist of Sina Financial Opinion Leader (WeChat public account kopleader)
The target of property market regulation will not change at this time. What needs to be changed is the attitude and understanding of the regulation of the real estate market. It is to actively follow the orientation of "houses are for living, not for speculation", to complete the task of "resolutely curbing the rise of house prices", and to promote the healthy and orderly development of the real estate market.
On October 31, the Political Bureau of the CPC Central Committee held a meeting to analyze and study the current economic situation and deploy the current economic work. According to the report of the meeting, the meeting did not mention the real estate problem, so some people think that the property market regulation policy may have to change.
![](http://n.sinaimg.cn/finance/crawl/705/w427h278/20181106/Gdze-hnknmqx7462908.jpg)
Obviously, this is the behavior of dogmatic looking at problems and mechanically understanding the spirit of the meeting. Not mentioning the regulation of the property market does not mean that the regulation of the property market will be loosened, and the regulation of the property market will turn. Because when an important conference is held, it is necessary to study the most important and urgent issues based on the actual economic and social development at that time, rather than covering everything. The result of this will not only result in the lack of focus and clear tasks, but also create many illusions, which will have adverse effects on the implementation of policies and measures.
In fact, on the issue of property market regulation, the policy has been very clear, "houses are used for living, not for speculation", which is the positioning of the property market; It is a requirement for the property market to "resolutely curb the rise of house prices". With positioning and requirements, we only need to strengthen the implementation according to such positioning and requirements. Only when the implementation is not in place, the measures are not solid, and the effect is not ideal, the relevant issues will be emphasized. From the current actual situation, the real estate market regulation has achieved good results. The range of house price rise has narrowed, and some areas have also seen a slight decline. Local awareness of the property market regulation has also been significantly enhanced, and the relevant responsibilities have been basically implemented. Therefore, there is no need to overemphasize the regulation of the property market. What needs to be emphasized is that the work that has not been done well or has not been done well and has no effect is the new contradiction and new problem arising from the changes in the international and domestic environment.
There is no doubt that the current focus is no longer on the property market regulation with a set goal, but on stabilizing economic growth, market expectations and confidence in development. In particular, the downward pressure on the economy brought about by the deterioration of the international economic environment is the key among the keys. We need to concentrate all our efforts to ensure economic stability, market stability, and people's stability, to ensure that the economy will no longer have a significant downward trend, to ensure that enterprises can successfully pass through difficult periods, and to ensure that the employment and living standards of residents will steadily improve.
![](http://n.sinaimg.cn/finance/transform/62/w550h312/20181106/AU14-hnknmqx7460301.png)
Therefore, the key points determined at the meeting of the Political Bureau are all the prominent aspects of the comparison of current economic and social development contradictions, which is the aspect of stinginess. For example, the analysis of the economic situation clearly points out that "the current economic operation is stable with changes, the downward pressure on the economy has increased, some enterprises have more difficulties in operation, and the long-term accumulated risks and hidden dangers have been exposed." Obviously, these are the prominent contradictions in the current economic development, which need to be solved in time, and also new contradictions brought about by the changes in the international economic environment New problems. If we don't pay attention to these contradictions and problems, but talk about the regulation of the real estate market with very clear goals, positioning and requirements, we will not distinguish between the primary and secondary, nor between the light and heavy. Naturally, it is mechanically rigid thinking to think that the regulation of the property market should be shifted without mentioning the real estate problem.
When looking at problems, we must look at the essence and content, not just the surface and form. In particular, it is not allowed to follow the script and compare the previous and subsequent meetings and documents dogmatically, so as to draw some conclusions that are totally groundless and unreasonable. Especially when encountering difficulties and contradictions in the economy, we should look at problems calmly, objectively, comprehensively and rationally, never ignore one thing and lose another, never use mechanical dogma, and never use points to cover the surface and blind people to imitate the image. Wrong analysis and judgment are very harmful to the implementation of policies and decisions. For the moment, the most important issue is "stability". All work should be carried out around "stability" to stabilize employment, finance, foreign trade, foreign capital, investment and expectations. On this basis, we will actively strive for "progress" to achieve the goal of "progress in stability".
![](http://n.sinaimg.cn/finance/crawl/771/w471h300/20181106/hOxU-hnknmqx7462969.jpg)
Because of this, if the real estate issue is not raised at the meeting, do not speculate and play blindly. The regulation of the property market cannot be relaxed at a critical moment, and the target of the regulation of the property market will not change at this time. What needs to be changed is the attitude and understanding of the regulation of the real estate market. It is to actively follow the orientation of "houses are for living, not for speculation", to complete the task of "resolutely curbing the rise of house prices", and to promote the healthy and orderly development of the real estate market. When can the regulation of the property market be relaxed, and when can the regulation policy of the property market be withdrawn, there is only one answer, that is, the long-term management mechanism of the property market has been formally formed, the house price is becoming rational, the market structure is basically reasonable, and the system of buying, renting, and security housing is basically established. Therefore, no matter whether the real estate issue is raised again in the meeting or in the document, we should not interpret it too much, not look at the issue one-sided, but look at the spiritual essence objectively, calmly, comprehensively and rationally, so as to avoid affecting the correct implementation of the policy and the implementation effect of the policy.
(About the author: researcher of China Non performing Assets Industry Alliance)