Real estate presser substantive but disappoints; US sanctions over PRC drones for Russia; Lammy to Beijing; EU EV tariff talks; BYD

Q3 GDP data comes out in a few hours:

Data released on Friday is forecast to show the world's second-largest economy grew 4.5% year-on-year in July-September, slowing from 4.7% in the second quarter and hitting the weakest pace since the first quarter of 2023, according to a Reuters poll.

Summary of today’s top items:

1. Press conference on real estate measures - The press conference with the Minister of Housing and Urban-Rural Development and officials from the Ministry of Finance, Ministry of Natural Resources, People's Bank of China, and the National Financial Regulatory Administration delivered the 4-4-2 - “four cancellations, four reductions, and two increases”. The 4-4-2 are: canceling restrictions on purchases, sales, prices, and the standards distinguishing between ordinary and non-ordinary housing; lowering interest rates for housing provident fund loans; reducing down payment ratios for housing loans, unifying the minimum down payment ratio for first and second home loans to 1…