China Banking Sector: Supportive policy on carbon-efficient industry VNET (B2/B rated) – 3Y New Issue: FV 8.7% Looking beyond 2H21 ads headwinds Hope for the best and prepare for the worst China Property Sector：What is the end game? A detailed analysis of chairpersons’ possible bailout Morning Notes 3Q21 in-line; Remain cautious on 4Q21 recovery Outstanding double 11 and e-commerce sales China Internet Sector:2021 "11.11": Heading into high-quality growth China Property Sector:NBS Oct data in line; Chairpersons in action to buy time