中泰证券：【中泰研究丨晨会聚焦】固收肖雨：稳增长政策“提效”——1008国新办发布会点评-20241010

Group 1: Key Insights from the Reports - The report highlights the ongoing optimization of the policy environment and the consolidation of the land market in the real estate sector, with a notable decline in land supply and transaction amounts in Q3 2024 [2][3] - The average land premium rate in Q3 2024 was 3.75%, showing a slight decrease compared to Q3 2023, indicating cautious expectations from developers regarding future market conditions [2][3] - The report indicates that the national land supply planning area for Q3 2024 was 827 million square meters, reflecting a year-on-year decrease of 14.2% [2][3] Group 2: Economic Policy Insights - The National Development and Reform Commission's recent press conference emphasized a comprehensive approach to economic policy, focusing on five key areas: enhancing macro policies, expanding domestic demand, increasing support for enterprises, stabilizing the real estate market, and boosting the capital market [3][4] - The report notes that the emphasis on "efficiency" in growth policies suggests a shift towards optimizing existing policies rather than introducing large-scale new measures [3][4] - Specific measures include accelerating the issuance and utilization of local government special bonds and enhancing fiscal spending to stimulate consumption and investment in key areas [4]