The China Index Research Institute pointed out that overall property market turnover increased in May compared to the same period last month. First-tier transaction area fell 12.8% month-on-month; Guangzhou only rose slightly month-on-month. The second tier overall rose 12.2% month-on-month. Total inventory area declined slightly, with Beijing showing the biggest drop, with inventory area falling 3.00% month-on-month. In terms of land, in May, the overall supply of monitored cities declined slightly year on year. The number of residential land launched fell slightly year on year, and the supply of all tier cities fell year on year; on the transaction side, prices fell by more than 20% year on year, and the transaction area of first-tier cities fell by more than 40% year on year; the type of housing enterprise financing was dominated by corporate bonds, and cities acquired by housing enterprises were concentrated in Hangzhou, Wuxi, Xi'an, Foshan, Qingdao and other cities.