[Market Monitoring Tool·Pulp Analysis] China’s timber prices have fallen sharply year-on-year. Will the pulp supply be significantly affected?

1. General Office of the CPC Central Committee and the State Council: Continue to work hard to promote the real estate market to stop falling and stabilize. 2. Shenzhen: Cancel the household registration and first home restrictions for non-local housing provident fund loans, increase the housing provident fund loan amount, and increase the maximum amount to 2.31 million yuan. 3. Statistics Bureau: The sales price of commercial housing in various cities has generally remained stable and slightly decreased month-on-month, among which the newly built commercial housing in first-tier cities continued to rise month-on-month. 4. Statistics Bureau: From January to February, the sales area of newly built commercial housing was 107.46 million square meters, a year-on-year decrease of 5.1%, and the decline was 7.8 percentage points narrower than the whole year of last year. 5. Hangzhou piloted new regulations on quality housing: the floor height is not less than 3 meters. 6. The weighted average interest rate of new personal housing loans in February was about 3.1%, a decrease of about 70 basis points from the same period last year. 7. Suzhou increased support for provident fund loans: the maximum loan amount for multi-child families increased by 35%, and interest subsidies were available for families in need. 8. China Index Academy: The second-hand housing market in core cities is expected to remain hot in the short term. 9. The transaction volume exceeded 1,000 for two consecutive days, and 30,000 second-hand housing units in Shanghai are expected to be sold in a single month. 10. Shenzhen's second-hand housing sales in a single week have achieved five consecutive increases, and the transaction prices in the core area have stopped falling and rebounded. 11. Zhejiang: Deepen the construction of "good houses" and encourage local governments to optimize regulations such as floor area ratio calculation. 12. Hong Kong's second-hand housing price index hit a 21-week low. 13. Fuzhou Housing Provident Fund Center: 5.355 billion yuan in loans were issued last year. 14. Harbin issued new real estate regulations, and the common area and the floor area of the unit must be "clear at a glance". 15. Sanya carried out special rectification of real estate development, transactions, intermediaries and other links.

Kremlin: (Regarding Trump's statement that land and power plants are the focus of Russia-Ukraine agreement negotiations) We have no comment on this at this time.