International credit rating agency Moody's released a report stating that in order to implement policies such as the “three major projects,” the Chinese government will pay more attention to affordable housing and urban village renovation in the next few years. Moody's predicts that China's housing market will shift to a more balanced supply model for guaranteed housing, rental housing, and traditional commercial housing. Moody's believes that these measures aim to rebalance the industry's supply and demand pattern, increase the affordability of homebuyers (especially in first-tier cities), calm housing price fluctuations, and help absorb current housing inventories. For example, housing needs generated by residents affected by the transformation of urban villages can be met using unsold housing, while vacant housing can be converted to guaranteed housing or rental housing. (Shell Finance)