政府工作報告釋放房產政策寬鬆預期

Industry insiders anticipate eased policies covering the realty market after the Government Work Report delivered by Premier Li Keqiang on Thursday featured a softer tone on the industry.
中國國務院總理李克強3月5日所作的政府工作報告對房地產業用語緩和。業內人士據此表示，房地產市場政策有望放鬆。

The report omitted any mention of "curbing investment and speculative demand", which had appeared in previous reports, and mentioned only "people's demand for housing for personal use and second homes", which was interpreted by market players as a signal of further policy easing and other steps to boost demand.
在前幾年的政府工作報告出現過的“抑制投機投資性需求”在今年的報告中隻字未提，只是談到“居民自住和改善性住房需求”。 在行業企業看來，這是進一步放寬政策、刺激需求的信號。

"We believe the softer tone paves the way for further policy easing, including a cut in the down payment requirement. The government also plans to increase support for government-subsidized housing, including via the purchase of existing housing stock," said Wang Tao, chief economist in China with UBS AG.
中國首席經濟學家兼瑞士聯合銀行副總裁王濤表示：“我們相信，溫和的表述能爲降低首付款要求等進一步的寬鬆政策鋪路。政府還計劃增加對保障性住房的支持，包括購買現有存量房。”

China will stabilize property market with tailored, market-based policies to guide "stable and healthy development", the report said.
政府工作報告稱，中國要因地施策引導房地產業“穩定、健康地發展”， 以穩定房地產市場。

The market went through tough times last year, with slumping prices and sales in many cities.
2014年，中國的房地產市場經歷了一段艱難期，很多城市都遭遇價格和銷售額的雙滑坡，。

According to the National Bureau of Statistics, property investment growth slid to 10.5 percent in 2014 from 19.8 percent in 2013. Slower investment growth and sluggish apartment sales have affected industries ranging from iron ore to banking, and small and medium-sized developers have been under particular pressure.
據中國國家統計局統計，房地產投資增量由2013年的19.8%跌至2014年10.5%。較低的投資增長和蕭條的房屋銷售對包括鐵礦和銀行在內的多個行業造成影響。特別是中小型開發商，壓力尤大。

Developers said that the Government Work Report provided insights that may lead them to seek opportunities in niche markets.
開發商認爲，政府工作報告將引導他們在利基市場中尋找機會。

Yang Keng, a member of the National Committee of the Chinese People's Political Consultative Conference and head of a Chengdu-based developer in Sichuan province, said his enterprises have been shifting their focus to apartments with basic fittings such as plumbing, rather than bare shells, for consumers who wish to upgrade.
中國人民政治協商會議全國委員會委員，四川省成都市的開發商代表楊鏗表示，爲滿足改善住房客戶的需求，他的企業已將建房重點轉向配有水管裝置等基本設施的公寓，而不是豪華的住房。

"I think the current market needs (basic) apartments, not luxurious, spacious houses," he said.
“我認爲現在的市場需要的是普通住宅，而不是奢侈豪華的住宅，”他說道。

Analysts said the realty market will benefit from the report's guidance in 2015 in various ways.
分析人士表示，房地產市場將在2015年從多方面受益於工作報告的引導性表述。

"There may be further reserve ratio requirement cuts (for banks) by the end of 2015. In first-tier cities such as Shanghai, prices of apartments may climb some 10 percent based on solid demand ... while the prices of large luxury homes may rise between 5 and 8 percent," said Jenny Wu, director and head of residential services in eastern China for DTZ, a property services provider.
房地產服務提供商戴德樑的華東區住宅服務負責人吳娟儀表示：“到2015年末，（銀行的）存款準備金率可能會進一步下調。在包括上海在內的一線城市，由於需求較大，普通住宅的價格可能攀升10%……而豪華住宅的價格升幅則可能在5%到8%之間。”

Although the government aims to stabilize the market, it may not be willing to end purchase limits in cities such as Beijing and Shanghai.
雖然政府意在穩定市場，但可能不會結束北京和上海等城市的購房限制政策。

Vocabulary：

curb：遏制

speculative：投機的

down payment：首付

slumping：下跌的

sluggish：蕭條的

niche market：利基市場，指那些被市場中的統治者/有絕對優勢的企業忽略的某些細分市場