建筑材料：1017住建部新闻发布会点评-地产政策“组合拳”，我们关注哪些

Investment Rating - The report maintains an "Accumulate" rating for the building materials industry [4]. Core Viewpoints - The report emphasizes the importance of the "two increases" in the recent policy package, which includes the addition of 1 million urban village and dilapidated housing renovations and the expansion of the "white list" for real estate financing [11][12]. Summary by Sections 1. Policy "Combination Punch" - The recent press conference highlighted "four cancellations, four reductions, and two increases" aimed at stabilizing the market [11][12]. 2. "Two Increases": Support for Monetized Resettlement and Increased Loan Allocation for "White List" Projects - The first increase involves five policies supporting the monetized resettlement of 1 million urban village and dilapidated housing renovations, emphasizing financial balance and targeting major cities [5][13]. - The second increase focuses on expanding the loan allocation for "white list" projects, aiming to include all qualified real estate projects and improve cash flow for construction and building material companies [21][22]. 3. Effects and Progress of Real Estate New Policies - Following the release of new policies, there has been a noticeable recovery in the housing market in first-tier cities, with significant increases in second-hand housing transactions in Beijing, Shanghai, and Shenzhen [24][23]. 4. Affordable Housing: "Built and Purchased as Needed" - From January to September 2024, 1.48 million units of affordable housing were constructed or collected, primarily through rental and purchase methods to support new citizens and low-income families [26]. 5. Revitalizing Idle Land: "Control New Supply, Revitalize Existing Stock" - The strategy involves controlling new residential land supply and utilizing special bonds for land reserves to enhance liquidity for real estate companies [29][30].