As the fourth quarter begins, seizing the time window is particularly crucial for achieving the annual economic and social development goals. The "Golden Week" of National Day has fueled a hot consumption market, a combination of policies has aimed to stabilize the real estate market, major projects have been steadily advancing, and the effects of the "Two New" policies continue to emerge... In this golden autumn month, regions across the country are uniting forces, seizing opportunities, and making solid progress in promoting high-quality development.

Observation One: The Colorful Golden Week Sparks New Vitality in Cultural and Tourism "Changan Twelve Hours, the market is open, and we await the arrival of esteemed guests." On a certain day, at the opening ceremony of the Chang'an Twelve Hours theme block in Xi'an, the ritual officer loudly read the welcoming address, and tourists waiting outside streamed in. The number of visitors to the Chang'an Twelve Hours theme block in October increased by 30.9% compared to the previous month. Leveraging the momentum of the "Golden Week" in early October, the national cultural and tourism market in October presented a vibrant new landscape, with various regions optimizing supply and improving services to provide tourists with better consumption experiences.

During the National Day holiday, driven by popular games, the cultural heritage sites in Shanxi Province, such as the Wooden Pagoda in Ying County, the Yungang Grottoes, Xiaoxitian, and the Hanging Temple, saw a doubling in popularity. "Treasured small towns" like Wuyuan in Jiangxi, Yixing in Jiangsu, Shunde in Guangdong, Yanji in Jilin, and Tengchong in Yunnan attracted visitors from all directions. According to estimates by the Ministry of Culture and Tourism's data center, during the National Day holiday, the number of domestic tourist trips nationwide reached . billion, a year-on-year increase of .% on a comparable basis. The total expenditure of domestic tourists was . billion yuan, a year-on-year increase of .% on a comparable basis.

After the Golden Week, the strong travel demand remains unabated. On the runways, planes take off and land in a busy manner; at the port's visa-on-arrival windows, staff efficiently and meticulously handle visa services; in the arrival hall, tourists from around the world queue up... The Zhangjiajie Hehua International Airport in the golden autumn is bustling yet orderly. Tian Hongman, Deputy Director of the Zhangjiajie Municipal Bureau of Culture, Tourism, Radio, Television, and Sports, said, "After the National Day holiday, the Zhangjiajie cultural tourism market continues to be hot. Travel during off-peak times, music tours, sports tours, and other 'playstyles' create more tourism consumption scenarios, further meeting market demand."

Localities are actively advancing "tourism+", continuously refreshing consumption scenarios, and enriching new business forms. The integration of culture and economy means that traffic is also incremental. To promote the deep integration of culture and tourism, localities should also differentiate their positioning, continuously enhance the appeal of their products, and explore new spaces for the development of culture and tourism.

Observation Two: Policy Combination Boosts Real Estate Market to Stabilize and Recover On the afternoon of the 1st, despite it being a holiday, the sales office of the Poly Light and Energy Leap City project, located in the area outside the outer ring road of Shanghai, was packed to the brim. "Just during the Golden Week, we closed 10 deals in 7 days," said Wang Yuwei, marketing head of Poly Light and Energy, who told reporters that after the introduction of the so-called "Shanghai Seven Measures" real estate policy, the most noticeable change was the return of confidence among homebuyers.

Since the beginning of the month, relevant departments have guided various regions to take swift action, focusing on the implementation of existing policies and the introduction of new policies, launching a series of combined measures. The real estate market in first-tier cities has remained active, with signs of stabilization and recovery emerging. From the 1st to the 10th of the month, new residential housing transactions in Shanghai reached 1,000 units, an increase of 20.3% compared to the previous period, while second-hand housing transactions reached 1,000 units, an increase of 16.6% compared to the previous period. On the 20th of the month, Guangzhou officially lifted the housing purchase restrictions. Since the implementation of the new policy until the 25th of the month, the city's new commercial housing transactions amounted to 500,000 square meters, an increase of 20% compared to the entire previous month. From the 1st to the 10th of the month, the daily subscription volume of new residential properties in Shenzhen averaged about 100 units, nearly 10,000 square meters, setting a new high in recent years for the transaction volume of Shenzhen's new housing market...

The effects of the comprehensive real estate policies continue to show, with the real estate market in first-tier cities showing signs of recovery. Pu Zhan, Deputy Director of the Policy Research Center of the Ministry of Housing and Urban-Rural Development, stated that this will help guide the real estate markets in second- and third-tier cities, thereby enhancing overall confidence and activity in the real estate market.

Currently, the effects of the real estate policy combination are continuously manifesting, with market sentiment in the property market warming up and market confidence gradually recovering. Although the property market is active, differentiation still exists. To better consolidate and stabilize the warming trend, it requires continuous coordinated efforts from multiple parties, strictly controlling new developments, optimizing existing ones, and improving quality, thereby promoting a virtuous cycle in the market.

Observation Three: Major Projects Progress Steadily to Support Economic Growth. On a crisp autumn day, the construction site of the Hechuan East Tunnel project on the Xiyu High-Speed Railway, undertaken by the 14th Bureau of China Railway, is bustling with activity. Under the direction of workers, the massive shield machine's cutter head slowly rotates, initiating the shield tunneling for the tunnel outlet drainage hole. Workers are busy with their tasks according to the sequence requirements. Several key projects, including the Xiyu High-Speed Railway, have been included in the major projects for the joint construction of the Chengdu-Chongqing Economic Circle this year.

Since the beginning of the year, major projects in the Chengdu-Chongqing Twin City Economic Circle have entered a sprint phase, with a number of projects achieving phased results, laying a solid foundation for the completion of annual investment tasks. "The commencement, construction, completion, and operation of major projects are conducive to boosting market confidence and development expectations, and can better play the leading and driving role of effective investment," said Lai Fengbo, Director of the Transportation and Regional Development Research Center of Shandong Province.

The completion and opening of the Weiyang High-Speed Railway marks the breakthrough of Shandong Province's high-speed railway operating mileage beyond 1,000 kilometers; the runway of Lishui Airport in Zhejiang Province has been fully connected, with the expectation of being ready for calibration flights by the end of the month; Chongqing has signed six major foreign investment projects, with a total investment amount of 10.7 billion yuan... In October, major projects across the country have been steadily advancing, with a series of new projects being launched one after another, laying the groundwork for the economic and social development in the fourth quarter and next year.

Yang Jirui, Dean of the Chengdu-Chongqing Economic Zone Development Research Institute of Southwestern University of Finance and Economics, stated that significant project investments are crucial levers for boosting the economy and stabilizing growth. In the fourth quarter, it is essential to strengthen factor support, safeguard safety, and expedite the early start, completion, and operation of key projects in transportation, energy, and industrial sectors, thereby generating more physical work volumes and economic growth points.

Since the beginning of the month, various regions have taken major project investment as a key driver. On one hand, they have seized the "golden period" for construction, intensively advancing key project construction; on the other hand, they have begun planning a new batch of key investment projects, accumulating momentum and growth potential for economic and social development. The continuous advancement of major projects helps to solidify the foundation for the recovery and improvement of the economy.

Observation Four: The Effects of the "Two New" Policies Boost Consumption "Recently, when buying a new house, I needed to purchase home appliances. Seeing the promotions, I bought everything at once. The subsidies and discounts are very attractive to consumers." Recently, at a JD Wuxing Electronics store on Ningkang East Road in Yueqing City, Zhejiang Province, a citizen purchased several home appliances in one go. "Since the introduction of the policy, the home appliance consumption market in Yueqing has responded positively." According to relevant statistics from the Yueqing Municipal Bureau of Commerce, as of the end of the month, the home appliance trade-in consumption subsidy campaign in Yueqing has accumulated sales of 1.1 billion yuan, with a total of 10 million yuan in subsidies issued.

With the continuous implementation of the "Two New" (large-scale equipment renewal and consumer goods trade-in) policies, various regions are seizing the opportunity to launch a series of consumption promotion activities. In Tangshan, Hebei, the local government has focused on key areas such as automobiles, home appliances, home decoration, and electric vehicles, successively introducing consumption promotion activities such as "Goods Renewal Season," "National Day Joyful Shopping," and "Trade-in for New in Communities," leading to a growing consumption market. In Wuxi, Jiangsu, the highest subsidy for home appliance trade-ins is %, with a maximum subsidy of yuan per household, and it is estimated that the annual demand for consumer goods trade-ins in Jiangsu Province will be around billion yuan. As of the date, Sichuan has allocated approximately . billion yuan in special funds for large-scale equipment renewal from the national ultra-long-term special sovereign bonds...

Since the beginning of the month, various regions have successively introduced specific operational measures, intensifying support for the renewal of equipment in key sectors, further enhancing the capacity for local consumer goods to trade in old for new, effectively driving investment growth, releasing consumption potential, and promoting industrial development.

The "Two New" policies continue to gain momentum, with policy effects being rapidly released, significantly driving economic growth, expanding investment, boosting consumption, and accelerating transformation. The fiscal "hard cash" investment is substantial and covers a wide range of areas. In the future, it will be necessary to further strengthen financial oversight, ensure the security of funds, and ensure that policies are effectively implemented.