On December 19, at the “Alpha Summit” co-hosted by Wall Street News and the China-Europe International Business School, Xing Ziqiang, China's chief economist at Morgan Stanley, said that whether it is the wealth effect of residents or the impact on employment in the upstream and downstream sectors driven by the economy, it is inseparable from solving the problem of stable real estate. The efficiency of wealth created by the new technology industry may be reflected in the listing of “Little Hecai” hard technology IPOs in the stock market, but the Chinese capital market only accounts for a single-digit allocation of residents' wealth; nearly 60% of residents' wealth is still real estate.

On December 19, at the “Alpha Summit” co-hosted by Wall Street News and the China-Europe International Business School, Xing Ziqiang, China's chief economist at Morgan Stanley, said that whether it is the wealth effect of residents or the impact on employment in the upstream and downstream sectors driven by the economy, it is inseparable from solving the problem of stable real estate. The efficiency of wealth created by the new technology industry may be reflected in the listing of “Little Hecai” hard technology IPOs in the stock market, but the Chinese capital market only accounts for a single-digit allocation of residents' wealth; nearly 60% of residents' wealth is still real estate.