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On Friday afternoon, Beijing unveiled a new real estate policy aimed at adjusting purchase restrictions beyond the 5th Ring Road and enhancing support for housing provident funds. Over the weekend, some Beijing property markets swiftly reacted, with transactions taking place on the evening of the policy announcement. Industry experts highlighted that Beijing's real estate market underperformed in July, paving the way for these policy adjustments. Given that the market supply beyond the 5th Ring Road comprises over 70% of the total, the relaxation of purchase limits is anticipated to significantly stimulate market demand. The implementation of this new policy aims to foster the steady and healthy development of the real estate market and better cater to residents' evolving housing needs.
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