The central bank cut interest rates sharply and launched a 4 trillion RMB rescue plan. Industry insiders believed that the government's aggressive rate cuts and active fiscal policies would stimulate the housing market to rebound, release residents' pent-up rigid demand for home purchases over nearly a year, and China's property market was brewing a major reversal.
I am not quite understanding of economics. There are mixed opinions on this rate cut, but I think that in such an economic downturn, the resolutions issued by the government should be to lead the people through the winter.