To discuss this round of property price fluctuations, we are joined by Mr. Zhao Zhongxiu, vice president of the University of International Business and Economics. Welcome.

Q1. We now see residential markets in these first-tier cities cooling down. Is that what the recent regulations were aiming for? Who have been most affected by these regulations, speculators or those with rigid demands? 

Q2. Will the home market chill go on for long? How much do you expect home prices and demand to drop?

Q3. We've seen a lot of ups and downs in the property sector, in first-tier cities as well as second and third-tier ones, though for quite different reasons. Do you think it's going to stabilize now and get on a healthier track? If not, what should be done?