Meng Xiaosu: the steady development of the real estate market is the key to speeding up the formation of the domestic cycle.

SMM: on the afternoon of August 12th, Meng Xiaosu, head of the REITs research group of the Development Research Center of the State Council and chairman of Huili Fund, made a speech in the 2020 Boao Real Estate Forum's keynote speech on "Progressive Real Estate-Policy, judgment, and expectation". He believed that the steady development of the real estate market was the key to speeding up the formation of the domestic cycle.

Meng Xiaosu said: do people still need houses now? I still need it. The people look forward to more comfortable living conditions and a more beautiful environment, and people's yearning for a better life is our goal.

He put forward several needs that are beneficial to the development of domestic real estate. First, it is about the need for migration, which means that rural people come to the city, and urbanization is in an accelerated stage.

Second, the demand for self-housing and improvement of urban residents is still huge. Although Chinese people already have their own homes, they are not satisfied with their living conditions. In fact, the demand of ordinary people is very strong. Especially in the context of fighting the epidemic and home isolation, what do ordinary people need more? They need bigger housing.

Third, the transformation of old urban areas, to meet the new needs of the people, Meng Xiaosu said: "the fourth is the demographic dividend, now we can have two children, whether we can continue to open up in the future, China's large population base, we do not worry about demographic dividends."

Data show that on 30 July, the meeting of the political Bureau of the CPC Central Committee stressed the need to speed up the formation of a new development pattern with the domestic great cycle as the main body and the domestic and international double cycles promoting each other. The strategic focus of domestic economic development is shifting from export-oriented to domestic demand-driven.

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