房地产行业住建部新闻发布会点评：四个取消、四个降低、两个增加，积极落实楼市政策组合拳

Investment Rating - The industry investment rating is "Positive" [1] Core Viewpoints - The report highlights a set of policies aimed at stabilizing the real estate market, including the cancellation of various restrictions, reduction of loan rates and down payment ratios, and the introduction of new housing projects [1][2] - The report emphasizes that the central government's policy goals are shifting from stabilization to promotion, indicating a more proactive approach to support the real estate market [2] Summary by Sections Policy Changes - Four restrictions have been canceled: purchase limits, sales limits, price limits, and classifications of ordinary and non-ordinary residential properties [1] - Four reductions include lowering housing provident fund loan rates, down payment ratios, existing loan rates, and tax burdens for "selling old to buy new" transactions [2] - Two increases involve the implementation of 1 million new housing projects through monetary compensation and an increase in the credit scale for "white list" projects from 2.23 trillion to 4 trillion [1][2] Market Impact - The cancellation of restrictive measures is expected to release pent-up demand for housing, which is crucial for a healthier and more transparent market in the long term [1] - Lowering costs for homebuyers is anticipated to alleviate repayment pressures and support both rigid and improved housing demand [2] - The introduction of 1 million housing projects is projected to release significant housing demand and provide quality supply through reconstruction [2] Investment Recommendations - The report suggests focusing on high-quality real estate companies in core cities, such as China Resources Land, Greentown China, and China Merchants Shekou, which are expected to benefit from the supportive policies [2] - The increased lending for "white list" projects is seen as a positive factor for real estate companies with market-oriented operational capabilities, such as Longfor Group [2]