房地产行业周报：政府收储或将加速，新型城镇化建设有望释放潜在需求

Investment Rating - The report maintains an "Outperform" rating for the real estate sector [2] Core Viewpoints - Government land acquisition is expected to accelerate, and new urbanization construction is likely to release potential demand [2][6] - The report highlights the importance of policies aimed at stabilizing the real estate market and emphasizes the combination of stock digestion and incremental optimization [6] Market Review - From July 29 to August 2, the Shanghai Composite Index rose by 0.5%, while the CSI 300 Index fell by 0.73%. The real estate sector increased by 1.32%, outperforming the Shanghai Composite by 0.82 percentage points and the CSI 300 by 2.05 percentage points [4] - Year-to-date, the Shanghai Composite Index has decreased by 2.34%, the CSI 300 Index by 1.36%, and the real estate sector has dropped by 20.63%, underperforming both indices by 18.29 and 19.26 percentage points respectively [4] Data Tracking - The cumulative year-on-year decline in residential land transactions across 100 major cities has widened to -36.66%, with first-tier cities experiencing a -53.30% decline [5][21] - The cumulative year-on-year decline in commodity housing sales across 30 major cities has narrowed to -34.92%, with first-tier cities at -28.08% and second-tier cities at -38.11% [5][29] Industry Dynamics - The Political Bureau of the Central Committee of the Communist Party of China emphasized the need for new policies to promote stable and healthy development in the real estate market, focusing on stock digestion and incremental optimization [6] - The State Council issued a notification on implementing a five-year action plan for a people-centered new urbanization strategy, aiming to increase the urbanization rate of the resident population to nearly 70% [6] Investment Recommendations - The report suggests focusing on brand real estate companies with quality land reserves in core urban areas, such as Greentown China, Poly Developments, and China Resources Land [6] - It also recommends attention to companies involved in regional land acquisition and inventory reduction, as well as leading service-oriented businesses like Beike-W and Greentown Services [6]