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The fundamentals of the real estate industry have remained unchanged for a long time.

Wang Lixin
On November 10th, Pan Gongsheng, Governor of the People’s Bank of China and Director of the State Administration of Foreign Exchange, said in an interview with Xinhua News Agency that the risks of real estate finance and local debt were generally controllable.
In my opinion, the current risks related to the real estate industry deserve high attention, but there is no need to be too pessimistic about the development prospects of the industry. In the medium and long term, there is a great demand for improved housing for residents’ families. Chinese-style modernization and new urbanization will bring continuous incremental housing demand, and the reconstruction of villages in megacities under the new model will also bring new opportunities, and the fundamentals supporting the real estate industry to stabilize and improve have not changed.
At the macro level, the policy of stabilizing the economy continues to exert its strength, and residents’ income expectations are improving, which provides strong support for the stabilization and recovery of the real estate market. From the GDP growth of 4.9% in the third quarter, it can be seen that China’s economy is recovering well. Although the real estate has not come out of the downturn, the transaction volume of new houses in key first-and second-tier cities has recovered, and the industry is expected to be gradually restored, stabilized and rebounded.
First of all, the real estate policy still has further expectations.Since the end of August, many departments and places in China have intensively introduced policies to moderately optimize and adjust the real estate, and policies such as "recognizing houses without recognizing loans", relaxing purchase restrictions, lowering interest rates, and returning the multi-city land market to "the highest bidder" have been intensively implemented, and their efforts have been significantly enhanced. The continuous use of the policy toolbox "because of the city’s policy" has created conditions for meeting the release of just-needed and improved housing demand, and opened up space for the stabilization of property market transactions in various places.
Judging from the recent statements of the central bank and relevant departments, the idea of relevant financial measures to support the stable and healthy development of the real estate market in the next stage has been clear. On the one hand, policies such as residents’ housing credit and housing financing still have further expectations, such as reducing residents’ housing purchase costs and increasing housing financing support; On the other hand, the financial supporting policies for the "three major projects" of affordable housing, urban village reconstruction and "flat and emergency" public infrastructure construction are also expected to accelerate, which is expected to play an important role in stabilizing investment in the future, and will also play a positive role in restoring and stabilizing real estate sales.
Secondly, the work of "guaranteeing the delivery of buildings" has been solidly promoted, and the confidence of the industry has been boosted to some extent.At present, "guaranteed delivery building" is an important event in promoting the stable and healthy development of the real estate market and plays a key role in restoring housing consumption confidence. Since July 2022, when the Political Bureau of the Communist Party of China (CPC) Central Committee Conference first put forward the task of "guaranteeing the delivery of property", various financial services such as "guaranteeing the delivery of property" special loan and "guaranteeing the delivery of property" loan support plan have followed suit, and relevant departments have also guided commercial banks to provide supporting financing support.
In addition to financial support, local governments and housing enterprises are also paying attention to the reform of the pre-sale system and encouraging the sale of existing homes. According to the data of the National Bureau of Statistics, in the first nine months of this year, the sales area of existing commercial houses nationwide was 130 million square meters, up 21.2% year-on-year, accounting for 17.9% of the total sales area, up 4 percentage points from the end of 2022. Theoretically, the sale of existing homes is the fundamental measure to prevent the unfinished property. Taking some projects in some cities as the pilot of existing home sales can also boost industry confidence and fundamental recovery.
第三,信用风险正在逐步出清,行业基本面逐步改善。进入11月份以来,万科债券出现非理性波动,深圳国资委明确表示支持万科,称其具备足够的安全性。随后,万科、金地于11月9日及10日相继发布赎回及债券兑付公告,市场暂时恢复平静。此外,今年以来,融创中国等出险房企债务重组方案也多顺利通过。
无论是大股东支持,还是化债取得关键进展,大型房企稳住经营基本盘,可助力行业进一步抽丝剥茧地切实改善基本面,从而防范化解房地产领域的金融风险。当然,企业层面也需要逐步向规范化、多元化、轻量化方向转型,以长期视角探寻新发展模式,比如在碳中和、建筑施工、资产管理、养老服务等细分赛道创新商业模式,引领行业升级发展。
树木因相依而生长,星辰因辉映而璀璨。当前房地产行业正在进行重大转型并寻找新的均衡点,希望在各方聚力下,尽快实现从“信心修复”到“行业康复”,步入健康发展新阶段。
图片 | 站酷海洛
制作 | 张文玲
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Beijing Hongxi International Golf Club

It’s been five months since I changed my pole on May Day to eleven. During the eleventh period, I played three games, and I went to the Grand Canal that day, all of which were over 100. From last year, I set a goal to break through 100 before the Olympics, and now I have played 99 in Hongxi in July. I think golf is not that easy to get. There are many problems. When I first started playing, the driver still had a distance. It’s best to hit 300, but now everything is at 220-240. Eleven stayed in Beijing, went to the driving range every day, practiced in Gaorun, looked for Niu Niu to see the movement, and changed the driver’s movement, which was still unstable, so it was difficult to fix the movement. [detailed]

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four

In international football, the Japanese football team recently won a brilliant victory, defeating the strong enemy in North America with a remarkable advantage of 4-1, which not only showed their strong strength in both offensive and defensive ends, but also highlighted their tacit teamwork. This victory is not only a recognition of the Japanese team, but also an affirmation and encouragement of the strength of the whole Asian football.

The reason why Japanese football can stand at the peak of world football today is largely due to the profound changes in the youth training system of the Japanese Football Association. They have absorbed the advanced concepts and training methods of international football and cultivated many players with comprehensive skills and strong tactical awareness. On the court, these players built an almost impeccable defense line with their unparalleled teamwork and mutual understanding.

Furthermore, while actively participating in international competitions, the Japan Football Association has also conducted extensive cooperation and exchanges with other football powers. Facing the world-class opponents, Japanese players not only honed their own skills, but also learned valuable experience by analyzing the opponent’s tactical layout, thus constantly improving their own tactical system. It is this international vision and open attitude that makes Japanese football more and more dazzling on the international stage.

As an important representative of Asian football, this leap of Japan is not only their own, but also a remarkable proof of the strength of the whole Asian football. Their success showed the world the rapid progress and unlimited potential of Asian football and won more respect and praise for Asian football.

However, behind all these achievements, it is the result of the long-term unremitting efforts and exploration of the Japanese Football Association. They constantly reformed and optimized the youth football training system, focused on cultivating players’ basic skills and diversified abilities, and established a scientific and efficient youth training model, which provided a solid cornerstone for the rise of Japanese football.

Behind such dazzling achievements in Japanese football are the contributions of many people who have paid silently. From coaches to club staff, from the parents of players to loyal fans, everyone’s efforts and support are an important part of the glory of Japanese football. To sum up, the Japanese football team’s great victory not only demonstrated their excellent ability and team spirit at both ends of the offensive and defensive, but also further consolidated their position in the world football. The continuous reform and optimization of the Japanese Football Association, coupled with extensive exchanges with international football, have created a team with exquisite skills and mature tactics. Their success is not only the recognition of a single team, but also an affirmation of the strength of the whole Asian football.

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Media criticism of China football has caused fans to laugh at it. It is a hot topic that you can’t miss at 7 am.

Recently, there has been a "AFC Champions League" in China football circle, and the Super League team won all the matches in this round, which made China football fans shine at the moment. However, at this exciting moment, some people began to worry about the goal of domestic players, which made people feel a little surprised. Among them, Ran Xiongfei’s comments caused great controversy. He said that the team’s victory in three games was a shot in the arm, and it was completely nonsense to worry that domestic players scored less goals. What he seems to want to express is that in a team, everyone should contribute to the victory, not worry about who scores the goal. Of course, some fans don’t agree with this view. They think that if foreign aid always occupies the forefront of the scorer list, the room for improvement of local players will be limited.

However, is this idea too narrow? As a team, victory is the most important thing, and everyone should strive for it. In addition, we must not forget that local players also need time to grow up, and they need to improve their strength through youth training. Nowadays, the adult players have been finalized, but we can improve the overall level of football in China by cultivating young players. If we only pay attention to the immediate results and ignore the future development, then China football may never catch up with other countries. Therefore, let’s put aside our worries about the number of goals scored and take practical actions for the development of football in China.

Let us believe that as long as everyone tries their best, China football will surely usher in a more brilliant future.

The above contents and materials are all from the internet, and the relevant data, and the theoretical research is based on the internet data, does not mean that the author agrees with the laws, rules, opinions and behaviors in the article and is responsible for the authenticity of the relevant materials. I am not responsible for any problems arising from the above or related issues, and the author of this article does not bear any direct or indirect legal responsibilities.

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Chinese culture

Chinese culture, or China culture and Huaxia culture, refers to the sum total of various cultural ideas, values, moral norms, artistic forms, literary works and philosophical thoughts handed down from the history of China. It is the spiritual wealth created by the people of China in the long-term historical development process, and it is the spiritual pillar and cultural foundation of the Chinese nation.

Chinese civilization refers to a form of civilization in the history of China, which is a unique civilization system bred, developed and passed down in China. Chinese civilization has a long history and rich cultural heritage, including Chinese characters, traditional Chinese medicine, Taoist thought, Buddhist thought, Buddhist culture, poetry and songs, music and dance, painting and sculpture, etc.

Chinese civilization emphasizes the harmonious coexistence between man and nature, and Chinese culture with a long history pays attention to the construction of morality and social order, which has had a far-reaching impact on the development of world civilization. Generally speaking, Chinese culture and Chinese civilization are interrelated and interdependent. Chinese culture is an important part of Chinese civilization, and Chinese civilization is the carrier and manifestation of Chinese culture.

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emotion

Emotion plays a vital role in human life. It not only affects our thinking, behavior and interpersonal relationships, but also stimulates our internal motivation. Emotion is our perception and experience of a specific situation, which may be positive or negative, but they are all indispensable parts of our lives. As an instinctive reaction of human beings, emotion is one of the innate talents.

It can prompt us to take action, pay attention to certain things, and be easily influenced by external factors. In addition, emotion helps us to better understand ourselves and others and enhance the attention of our inner world. Emotions can be divided into positive emotions and negative emotions. The former can stimulate our positive emotions and enhance our self-confidence, optimism and positive attitude. The latter will make us feel anxious, depressed and helpless, but it can also improve our alertness and attention to the surrounding environment.

The influence of emotion is bidirectional, which can not only bring us happiness and happiness, but also bring us pain and sadness. Emotion has an impact on our way of thinking and behavior, which makes us pay more attention to our inner world and interpersonal relationships. Therefore, we need to pay attention to our emotions, understand our emotions, and learn how to manage our emotions. Only in this way can we better understand ourselves and others and meet the challenges in life.

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What is the baseball theory that benefits Buffett for life?

Buffett has a PS photo hanging on the wall of his office.

In the photo, Buffett’s head was put on a baseball player’s body, and there was a matrix of colorful balls marked with numbers. In the documentary, the old man talked about this photo, Kan Kan, and talked about how this baseball player inspired his investment philosophy and benefited him for life.

This baseball player is Ted Williams. He has created many baseball records and won numerous awards. He is called "the greatest hitter in history", "the god of hitting" and "the strongest on the surface".

Why does Buffett take a baseball player as his investment mentor? A sports player, how to teach stock gods to invest money? What is the mysterious connection between the method of sports and the method of making money by investing?

In the 1997 Open Letter from the Chairman of Berkshire Hathaway to All Shareholders, Buffett said:

We (Berkshire Hathaway) will practice Ted Williams-level self-discipline. In his monograph "The Science of Strike", Ted explained his way of strike in detail.

He divided the shots in front of him into 77 squares, each of which was the size of a baseball. Only when the baseball flies to the best grid will he swing and hit the ball. At this time, his hit rate is as high as 40%.

And if the ball flies to his worst grid, that is, the corner below the hitting zone, his hitting rate will quickly drop to 23%.

In other words, if you wait for a good opportunity, you can enter the baseball hall of fame; If you don’t distinguish, you will only become an ordinary athlete if you watch the ball and play.

Why can he become the strongest baseball batter on the surface? What is the doorway behind his personal growth? How to make a novice baseball player get his growth mentality, reduce the number of pits and grow up quickly?

Ted Williams wrote a book about his own way of hitting, and called it The Science of Hitting.

The gap between ordinary baseball players and Ted, the "God of Baseball", was summed up by him as a three-step scientific methodology:

1. Hitting management(to get a good ball to hit);

Step 2 think correctly(proper thinking);

3. Practice, practice and practice again(to be quicker with the bat)。

Rule #1: batting managementTake a stick and hit a flying baseball. Do you still need management? Isn’t it enough to see the ball fly over, play hard and try to play your best every time?

Ted, the god of baseball, doesn’t think so In his opinion,When you know what not to play, it is the beginning of real playing.

This principle is similar to my previous reading experience. "When you know what books not to read, it is the beginning of real reading".

Yes, restraint and self-discipline based on scientific management are the essence of the first rule. Ted’s batting management is like this:

1. Identify the ball by divisionTed divided the batting area into 77 squares, each of which is the size of a baseball.

2. Speak with data and know yourself: 77 grids are divided into several different areas, and their technical ability is accurately quantified with data. The red area in the center is the happy zone where he hits the ball, with a hitting rate as high as 40% (the strongest in history, and no one has surpassed it at present), while in the gray area in the lower right corner, the hitting rate drops rapidly, only 23%.

This is a way to speak with data and recognize the boundaries of your ability.

3. Strict self-discipline (discipline, discipline, discipline)Play only the best shots in the best hitting area. Only when the ball enters the strike zone will he swing out.

Rule #2: think correctly

Everyone knows the importance of thinking. From the beginning of entering the classroom in grade one, the teacher has been tirelessly teaching: think hard and think hard.

However, Ted, the god of baseball, doesn’t think so. He thinks that thinking, especially the correct thinking method, is the premise and foundation of effective action.

The right method is so critical that: "If you think in the wrong way, the harder you work, the worse it will be.. "

And behind the correct thinking, it is such a principle:

Sports is also a science.Although it is not a precise science that can be completely quantified, accurately predicted and reproduced by experiments like mathematics and physics.

There should also be a set of scientific methodology for athletes’ personal improvement.Let the athletes’ efforts be more effective, and the efforts can be accumulated and accumulated iteratively.

So, after highly disciplined ball selection, Ted also has his own set of principles when hitting the ball:

1. Improve "observing opponents" to a strategic position;The first ball is absolutely only observed without swinging. He needs to understand the pitcher’s thinking and state that day through careful and keen observation and better adjust his hitting strategy.

2. Think correctly and systematically:On the basis of high-intensity practice, a set of hitting technique methodology suitable for you is refined and summarized.

The Science of Strike, published in 1970, has become a "Bible for baseball players", and ambitious baseball heroes have studied it carefully because Ted has refined a set of relatively scientific, reproducible and practical systematic methodology in this field that is difficult to be scientific and systematic with personal practice and thinking.

Whether it is standing position, hitting angle, timing management, hitting point, mentality adjustment, coping with mistakes, stress management and peacetime exercise, Ted has discussed them one by one and summed up his own methodology. He is really a "meta-problem solver".

The above are some screenshots taken from the book. If baseball teenagers read this pamphlet, they should feel like teenagers wandering in the rivers and lakes in martial arts novels, and suddenly turn to the secret book of Jiuyang Shengong in the cave.

Rule #3: Practice, practice and practice.

The third principle seems to be a cliche, and many people will "cut" it. "In the end, it really tells us to work hard!"

Yes, I still have to work hard.

However, emphasizing efforts does not mean that the method is not good enough. On the contrary, on the basis of basically correct scientific methods, it is the only way for all outstanding people to go all out without reservation, and constantly iterate methods in the process.

For a small number of people, they are smart enough to realize sooner or later that diligence is not the best virtue, but the best strategy.

Really smart people are smart enough to choose to be diligent.Ted, who created the baseball cheats, is the strongest baseball batter on the surface. He gets up at 6 o’clock every day and practices catching the ball 300 times a week. In his own words, "No matter how famous a batter is, no one practices his swing more than Ted Williams."

He is really diligent enough to really practice grinding blisters on his hands. After the blisters are worn out, he will bleed profusely. Then the cocoons on his hands will become thicker and thicker, and his skill will be improved day by day.

Unless we are really talking about the achievements of the world champion level, we don’t have to consider personal IQ and talent. And the relationship between personal efforts and scientific methods, basically sum up:

The real master of learning is the scientific method and the efforts beyond ordinary people.

Ordinary people, methods and efforts are all "average". You know, "just so-so".

Poor scum, the method is wrong, and no matter how hard you try, it won’t help.

The road to the growth of a master is like this: after searching up and down, you get a set of growth methods, but you still have to rely on your own hard training.

Andrew Nieman is a young and ambitious conservatory student in the movie "Burst Drummer". His goal is to become the strongest jazz drummer in history, like his idol Charlie Parker. "I want to be one of THE GREATS !"

However, it is far from enough to get the guidance of the top teachers. A person must be enterprising enough to practice himself to this extent.

I want to be one of the Greats, "I am willing to pay far more efforts than ordinary people and pay 200% sweat and tears". This alone distinguishes the real uncompromising enterprising from a large number of "oral learners".