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we now want to expand domestic demand

Residents, for example, we now want to expand domestic demand, GDP will go up, this time we are consumer goods housing, everybody go to buy a house, buy more housing, so that residents' consumption and domestic demand has been extended, but also in fifteen government plan to write clearly, what is our housing, consumer goods. There is housing is consumer goods, our interest rate the government pressure on it is in a very low level. Why is that? High interest rates, everyone to consume is probably didn't have the ability to bear, but also will increase the cost of consumers. But on the other hand, our government and put it as an investment, especially the calculation for the national bureau of statistics, we put the housing investment. Since housing is investment, that how, we there is no limit to the residents to purchase housing. A person can buy a set, also can buy two sets of, also can buy three sets, buy one hundred sets, we now did not distinguish between investment and consumption, in particular, the absence of qualified,? Our government issued a series of preferential policies, such as personal mortgage of real estate consumption policy put under the condition of very low interest rates, and so investors can take advantage of our low interest rate preferential policies, convenient use of our real estate market financing tools, then can use the money to buy a lot of housing. You may know, in 2005, Shanghai has a resident, borrow 78 million bought 128 houses in the bank. You can see, and our government is to put the prices stable at a level. What it appears a result, well, now that you are the market products are investments, and then the price is stable, so investors in the market will see in this market investment, must be entered into a risk-free investment market. In such an environment, such conditions? Will certainly have a large number of investors crowding into the real estate market. You think about it, if everyone in the investment, all in real estate speculation. At this time, the price of real estate is decided by what? By our investor expectations of the market to decide, means that investors see the market prices are rising, he would go in; Others saw prices rise, he is in.
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