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For the central bank, we think basically to keep monetary policy stable because this is not a nationwide serious problem, generally, if the average indicator of the Chinese economy is OK, the way for the central bank to have a specific policy targeted to the real estate market is difficult.
If China's growth slows down a bit but economy becomes more sustainable, that's good news.
Generally, if the average indicator of the Chinese economy is OK, the way for the central bank to have a specific policy targeted to the real estate market is difficult.
We worry a little bit that the price signal may give disincentive for new energy types to develop, and could reduce investment in new non-fossil energy.
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