十四届全国人大三次会议民生主题记者会点评：城市更新再扩围，“好房子”创造新赛道

Investment Rating - The industry investment rating is "Positive" (first-time rating) [2] Core Viewpoints - The report highlights the government's commitment to stabilize the real estate market through various measures, including increasing loan allocations and promoting urban village and dilapidated housing renovations [3] - The expansion of urban renewal projects is expected, with plans to include 1 million new urban village renovations and dilapidated housing renovations by 2024 [3] - The focus on "good housing" is emphasized, with the government aiming to create a new market segment for high-quality residential properties [3] Summary by Relevant Sections Urban Renewal and Housing Renovation - The Ministry of Housing and Urban-Rural Development plans to expand urban village renovations from 35 cities to nearly 300 cities, targeting old residential areas built before 2000 [3] - As of the end of 2024, approximately 349 billion square meters of existing residential space is estimated, with about 29% built before 2000, corresponding to around 101 billion square meters [3] Market Dynamics and Opportunities - The report anticipates that the restructuring of the housing demand will create a wave of development for "good housing," allowing product-driven real estate companies to gain market share and premium pricing [3] - The construction materials sector is expected to recover as the demand for high-quality housing increases, reversing the previous trend of consumption downgrade [3] Investment Recommendations - The report suggests focusing on real estate and construction material companies that are likely to benefit from urban renewal and the construction of high-quality housing, including companies like Binjiang Group and China Overseas Development [3]