<p>上海已對貶低房地產市場的在線內容展開打擊，因為該行業仍然陷入長期低迷，而兩家主要數據提供商則暫停發佈中國頂級開發商的最新銷售數據。\n 中國網絡空間管理局上海分局表示，已指示包括小紅書和嗶哩嗶哩在內的平台刪除被認為傳播誤導性或危言聳聽信息的內容，這些平台常被稱為中國的 Instagram 和 YouTube。\n 這項 “專項行動” 自 11 月中旬開始，已導致 4 萬條帖子被刪除，並造成 7 萬個賬户和 1200 個直播間被關閉，該機構在週二通過其官方微信賬號宣佈。\n 根據通知，一些賬户因使用可能引發用户恐慌的短語而被針對，例如 “市場即將崩潰”、“未來銷售將不可能” 或 “市場將崩潰”。\n 其他賬户則被指控誇大或誤解住房政策，製造虛假的市場預期或扭曲關於上海房地產市場的信息。\n 此次打擊行動是在對中國房地產市場的擔憂持續升温之際進行的，投資下降，銷售疲軟，分析師警告可能出現一波止贖潮，進一步給房價施加下行壓力。\n 與此同時，國內兩家頂級私人房地產數據提供商——中國房地產信息公司和中國指數研究院——因未發佈 11 月前 100 大開發商銷售的常規月度報告而加劇了這種不安。\n 如果預期管理失敗，可能會引發更廣泛的風險，例如大規模的抵押貸款違約和止贖潮。\n 廣東省改革研究會執行主席彭鵬表示，這些公司的行為沒有解釋，但彭博社援引知情人士的消息報道，這兩家機構已被中國住房管理局告知暫時停止公開此類數據。\n 彭鵬表示，政府近期的行動表明，預期管理對房地產市場仍然至關重要。\n“如果預期管理失敗，可能會引發更廣泛的風險，例如大規模的抵押貸款違約和止贖潮，” 他説。\n 在其帖子中，上海的網絡監管機構表示，將繼續加大力度打擊與房地產市場相關的虛假信息，並向公眾更新行動進展。\n 根據彭鵬的説法，近期的交易量數據顯示，市場顯示出一些穩定的跡象，儘管房價尚未打破下行趨勢。他補充道，市場在不同地區差異很大，一些項目仍然有強勁的需求。\n 上海的二手房市場在最近幾周略有回暖。根據國內媒體界面新聞引用的數據，11 月該市記錄了 22,943 套二手房銷售，比 10 月增長了 24%，是自 5 月以來的最高月度總量。\n 然而，一些中國開發商仍面臨巨大壓力。中國最大的房地產公司之一萬科上週因提議延長 20 億元（2.82 億美元）境內債券的還款期限而被下調信用評級。\n 房地產投資也持續下降。2025 年前 10 個月，投資同比下降 14.7%，較前九個月的 13.9% 的降幅略有加速。\n 前中國財政部長樓繼偉上個月警告稱，房地產低迷可能在未來五年繼續拖累中國經濟增長，因為市場尚未觸底。\n 當局試圖通過逐步放寬最初為防止投機投資而實施的購房限制來恢復需求。北京、上海和深圳在 8 月至 9 月之間放寬了購房限制，此前廣州成為今年首個全面取消此類限制的主要城市。</p>

AOMR

<p>上海已對傳播關於房地產市場誤導性信息的在線內容展開打擊，刪除了 40,000 條帖子並關閉了 70,000 個賬户。此舉旨在管理在持續市場低迷中的預期，因人們對潛在的抵押貸款違約和止贖表示擔憂。兩家主要房地產數據提供商已暫停發佈月度銷售報告，進一步加劇了市場的不安。儘管當局正在放寬購房限制以恢復需求，但投資仍在持續下降</p>

<p>Shanghai has launched a crackdown on online content that talks down the property market, as the sector remains mired in a prolonged downturn and two leading data providers pull back on releasing updated sales figures for China’s top developers.\nThe Shanghai branch of the Cyberspace Administration of China said it had instructed platforms including RedNote and Bilibili – often dubbed China’s answer to Instagram and YouTube – to remove content deemed to be spreading misleading or alarmist information about the real estate market.\nThe “special campaign” – which began in mid-November – had already led to the removal of 40,000 posts and caused 70,000 accounts and 1,200 live-streaming rooms to be shut down, the body announced via its official WeChat account on Tuesday.\nSome of the accounts were targeted for using phrases that could spread panic among users, such as “the market is about to crash”, “future sales will be impossible” or “the market will collapse”, according to the notice.\nOthers were accused of exaggerating or misinterpreting housing policies, shaping false market expectations or distorting information about Shanghai’s housing market, it added.\nThe clampdown comes as concerns continue to swirl over China’s real estate market, with investment in the sector falling, sales remaining sluggish, and analysts warning of a possible wave of foreclosures that could put further downward pressure on home prices.\nMeanwhile, two of the country’s top private real estate data providers – China Real Estate Information Corp and China Index Academy – have added to the unease by not publishing their usual monthly reports on the top 100 developers’ sales for November.\nIf expectations management fails, it could trigger broader risks such as widespread mortgage defaults and a surge in foreclosures\nPeng Peng, Guangdong Society of Reform\nThe firms offered no explanation, but Bloomberg reported, citing people familiar with the matter, that the two agencies had been told by China’s housing bureau to stop making such figures publicly available for the time being.\nPeng Peng, executive chairman of the Guangdong Society of Reform think tank, said the government’s recent actions showed that expectations management remained crucial for the property market.\n“If expectations management fails, it could trigger broader risks such as widespread mortgage defaults and a surge in foreclosures,” he said.\nIn its post, Shanghai’s cyberspace regulator said it would continue to intensify efforts to clamp down on property market-related misinformation and update the public on the campaign’s progress.\nAccording to Peng, recent transaction volume data indicated that the market was showing some signs of stabilising, although housing prices had yet to break their downward trend. The market also varied a lot by region, with a few projects still seeing strong demand, he added.\nShanghai’s secondary housing market has picked up slightly in recent weeks. The city recorded 22,943 sales of second-hand homes in November, a 24 per cent increase from October and the highest monthly total since May, according to data cited by the domestic media outlet Jiemian News.\nHowever, some Chinese developers remain under intense pressure. Vanke, one of the country’s biggest property companies, had its credit rating downgraded last week after the firm proposed extending repayment for a 2 billion yuan (US$282 million) onshore bond.\nReal estate investment also continues to decline. Investment was down 14.7 per cent year on year in the first 10 months of 2025, a slight acceleration from the 13.9 per cent fall recorded in the first nine months.\nLou Jiwei, a former Chinese finance minister, cautioned last month that the property slump could continue to act as a drag on China’s economic growth for another five years, as the market had still not bottomed out.\nAuthorities have tried to revive demand by gradually easing property purchase restrictions originally put in place to prevent speculative investment. Beijing, Shanghai and Shenzhen all relaxed buying limits between August and September, after Guangzhou became the first major city to fully scrap such curbs earlier this year.\n</p>
<div class="lb-trans"><p>上海已對貶低房地產市場的在線內容展開打擊，因為該行業仍然陷入長期低迷，而兩家主要數據提供商則暫停發佈中國頂級開發商的最新銷售數據。\n 中國網絡空間管理局上海分局表示，已指示包括小紅書和嗶哩嗶哩在內的平台刪除被認為傳播誤導性或危言聳聽信息的內容，這些平台常被稱為中國的 Instagram 和 YouTube。\n 這項 “專項行動” 自 11 月中旬開始，已導致 4 萬條帖子被刪除，並造成 7 萬個賬户和 1200 個直播間被關閉，該機構在週二通過其官方微信賬號宣佈。\n 根據通知，一些賬户因使用可能引發用户恐慌的短語而被針對，例如 “市場即將崩潰”、“未來銷售將不可能” 或 “市場將崩潰”。\n 其他賬户則被指控誇大或誤解住房政策，製造虛假的市場預期或扭曲關於上海房地產市場的信息。\n 此次打擊行動是在對中國房地產市場的擔憂持續升温之際進行的，投資下降，銷售疲軟，分析師警告可能出現一波止贖潮，進一步給房價施加下行壓力。\n 與此同時，國內兩家頂級私人房地產數據提供商——中國房地產信息公司和中國指數研究院——因未發佈 11 月前 100 大開發商銷售的常規月度報告而加劇了這種不安。\n 如果預期管理失敗，可能會引發更廣泛的風險，例如大規模的抵押貸款違約和止贖潮。\n 廣東省改革研究會執行主席彭鵬表示，這些公司的行為沒有解釋，但彭博社援引知情人士的消息報道，這兩家機構已被中國住房管理局告知暫時停止公開此類數據。\n 彭鵬表示，政府近期的行動表明，預期管理對房地產市場仍然至關重要。\n“如果預期管理失敗，可能會引發更廣泛的風險，例如大規模的抵押貸款違約和止贖潮，” 他説。\n 在其帖子中，上海的網絡監管機構表示，將繼續加大力度打擊與房地產市場相關的虛假信息，並向公眾更新行動進展。\n 根據彭鵬的説法，近期的交易量數據顯示，市場顯示出一些穩定的跡象，儘管房價尚未打破下行趨勢。他補充道，市場在不同地區差異很大，一些項目仍然有強勁的需求。\n 上海的二手房市場在最近幾周略有回暖。根據國內媒體界面新聞引用的數據，11 月該市記錄了 22,943 套二手房銷售，比 10 月增長了 24%，是自 5 月以來的最高月度總量。\n 然而，一些中國開發商仍面臨巨大壓力。中國最大的房地產公司之一萬科上週因提議延長 20 億元（2.82 億美元）境內債券的還款期限而被下調信用評級。\n 房地產投資也持續下降。2025 年前 10 個月，投資同比下降 14.7%，較前九個月的 13.9% 的降幅略有加速。\n 前中國財政部長樓繼偉上個月警告稱，房地產低迷可能在未來五年繼續拖累中國經濟增長，因為市場尚未觸底。\n 當局試圖通過逐步放寬最初為防止投機投資而實施的購房限制來恢復需求。北京、上海和深圳在 8 月至 9 月之間放寬了購房限制，此前廣州成為今年首個全面取消此類限制的主要城市。</p>
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上海啓動了對房地產市場唱衰行為的打擊行動