September 24th, Gronglu: Morgan Stanley indicated that the central bank announced a number of monetary policy measures to support the real estate market, slightly exceeding market expectations. It is believed that the measures may boost fourth-quarter housing sales and destocking, helping to alleviate the downward trend in house prices. The central bank estimates that lowering the interest rates on existing home loans will help 50 million households save 15 billion RMB in interest payments annually, with Morgan Stanley expecting favorable conditions for shopping mall operators, including china res mixc, china res land, Longfor Properties, and Seazen, based on the easing trend of retail sales decline.