Even though the real estate industry in China is currently experiencing a historic reformation, the "destocking" process of real estate has not been smooth. However, this cannot slow down the tremendous momentum of the flow of financial resources into a few big cities. Here, ANBOUND's warning is that the hot property market in a few cities is simply a short-term “carnival” created by investors with surplus capital trying to cash in on the asset bubble. Amid the economic downturn, the country needs to be alert about the systemic financial risks that will arise as a result of the bursting of the bubble—this is an unprecedented economic risk facing China!