[Demand Stimulated, New Housing Provident Fund Policy Boosts Real Estate Market Activity] Last week, the People's Bank of China issued a notice on reducing the interest rates for personal housing provident fund loans, stating that starting from May 8, 2025, the interest rates for personal housing provident fund loans would be reduced by 0.25 percentage points. Over the past weekend, the new housing provident fund policy significantly boosted market activity. Taking the Shenzhen market as an example, data released by the Central China Research Center of Shenzhen showed that during the first weekend after the implementation of the new housing provident fund policy (May 10-11), 152 new residential properties and 128 second-hand residential properties were sold in Shenzhen. Meanwhile, over the past weekend, the number of viewings for second-hand properties listed by Central China Real Estate increased by 53% compared to the previous week. Data from the Shenzhen Leyoujia Research Center indicated that the new housing provident fund policy effectively reduced home-buying costs and promoted market activity. After the policy's implementation, customers made decisions faster during the first weekend, and on Sunday, the number of second-hand property contracts signed at Leyoujia stores increased by 35% compared to the average during the Labour Day holiday.