The Central Economic Work Conference has put forward the implementation of differential real estate regulation, and Anbound believes that it indicates firstly, the regulatory approach is becoming more diversified and is no longer single multiple policies; the second is the content of regulatory is restricted yet shows developments at the same time; the third is differential control is adopted, which means that local governments will have room for adjustment of policies; the fourth is that the power of the central and local authorities must be clarified and the Central Government may decentralize the local authorities. The main purpose of real estate regulation next year is to maintain market stability, so that it will not lead to the risk of market collapse.