Industry insiders anticipate eased policies covering the realty market after the Government Work Report delivered by Premier Li Keqiang on Thursday featured a softer tone on the industry.
??? 中國(guó)國(guó)務(wù)院總理李克強(qiáng)3月5日所作的政府工作報(bào)告對(duì)房地產(chǎn)業(yè)用語(yǔ)緩和。業(yè)內(nèi)人士據(jù)此表示，房地產(chǎn)市場(chǎng)政策有望放松。

The report omitted any mention of "curbing investment and speculative demand", which had appeared in previous reports, and mentioned only "people's demand for housing for personal use and second homes", which was interpreted by market players as a signal of further policy easing and other steps to boost demand.
??? 在前幾年的政府工作報(bào)告出現(xiàn)過的“抑制投機(jī)投資性需求”在今年的報(bào)告中只字未提，只是談到“居民自住和改善性住房需求”。 在行業(yè)企業(yè)看來，這是進(jìn)一步放寬政策、刺激需求的信號(hào)。

"We believe the softer tone paves the way for further policy easing, including a cut in the down payment requirement. The government also plans to increase support for government-subsidized housing, including via the purchase of existing housing stock," said Wang Tao, chief economist in China with UBS AG.
??? 中國(guó)首席經(jīng)濟(jì)學(xué)家兼瑞士聯(lián)合銀行副總裁王濤表示：“我們相信，溫和的表述能為降低首付款要求等進(jìn)一步的寬松政策鋪路。政府還計(jì)劃增加對(duì)保障性住房的支持，包括購(gòu)買現(xiàn)有存量房?！?/p>

China will stabilize property market with tailored, market-based policies to guide "stable and healthy development", the report said.
??? 政府工作報(bào)告稱，中國(guó)要因地施策引導(dǎo)房地產(chǎn)業(yè)“穩(wěn)定、健康地發(fā)展”， 以穩(wěn)定房地產(chǎn)市場(chǎng)。

The market went through tough times last year, with slumping prices and sales in many cities.
??? 2014年，中國(guó)的房地產(chǎn)市場(chǎng)經(jīng)歷了一段艱難期，很多城市都遭遇價(jià)格和銷售額的雙滑坡，。

According to the National Bureau of Statistics, property investment growth slid to 10.5 percent in 2014 from 19.8 percent in 2013. Slower investment growth and sluggish apartment sales have affected industries ranging from iron ore to banking, and small and medium-sized developers have been under particular pressure.
??? 據(jù)中國(guó)國(guó)家統(tǒng)計(jì)局統(tǒng)計(jì)，房地產(chǎn)投資增量由2013年的19.8%跌至2014年10.5%。較低的投資增長(zhǎng)和蕭條的房屋銷售對(duì)包括鐵礦和銀行在內(nèi)的多個(gè)行業(yè)造成影響。特別是中小型開發(fā)商，壓力尤大。

Developers said that the Government Work Report provided insights that may lead them to seek opportunities in niche markets.
??? 開發(fā)商認(rèn)為，政府工作報(bào)告將引導(dǎo)他們?cè)诶袌?chǎng)中尋找機(jī)會(huì)。

Yang Keng, a member of the National Committee of the Chinese People's Political Consultative Conference and head of a Chengdu-based developer in Sichuan province, said his enterprises have been shifting their focus to apartments with basic fittings such as plumbing, rather than bare shells, for consumers who wish to upgrade.
??? 中國(guó)人民政治協(xié)商會(huì)議全國(guó)委員會(huì)委員，四川省成都市的開發(fā)商代表?xiàng)铉H表示，為滿足改善住房客戶的需求，他的企業(yè)已將建房重點(diǎn)轉(zhuǎn)向配有水管裝置等基本設(shè)施的公寓，而不是豪華的住房。

"I think the current market needs (basic) apartments, not luxurious, spacious houses," he said.
??? “我認(rèn)為現(xiàn)在的市場(chǎng)需要的是普通住宅，而不是奢侈豪華的住宅，”他說道。

Analysts said the realty market will benefit from the report's guidance in 2015 in various ways.
??? 分析人士表示，房地產(chǎn)市場(chǎng)將在2015年從多方面受益于工作報(bào)告的引導(dǎo)性表述。

"There may be further reserve ratio requirement cuts (for banks) by the end of 2015. In first-tier cities such as Shanghai, prices of apartments may climb some 10 percent based on solid demand ... while the prices of large luxury homes may rise between 5 and 8 percent," said Jenny Wu, director and head of residential services in eastern China for DTZ, a property services provider.
??? 房地產(chǎn)服務(wù)提供商戴德梁的華東區(qū)住宅服務(wù)負(fù)責(zé)人吳娟儀表示：“到2015年末，（銀行的）存款準(zhǔn)備金率可能會(huì)進(jìn)一步下調(diào)。在包括上海在內(nèi)的一線城市，由于需求較大，普通住宅的價(jià)格可能攀升10%……而豪華住宅的價(jià)格升幅則可能在5%到8%之間?！?/p>

Although the government aims to stabilize the market, it may not be willing to end purchase limits in cities such as Beijing and Shanghai.
??? 雖然政府意在穩(wěn)定市場(chǎng)，但可能不會(huì)結(jié)束北京和上海等城市的購(gòu)房限制政策。

Vocabulary：

curb：遏制

speculative：投機(jī)的

down payment：首付

slumping：下跌的

sluggish：蕭條的

niche market：利基市場(chǎng)，指那些被市場(chǎng)中的統(tǒng)治者/有絕對(duì)優(yōu)勢(shì)的企業(yè)忽略的某些細(xì)分市場(chǎng)

（譯者：薛佳茵，編輯 Helen）