地产行业政策点评：上海优化调整房地产政策，多管齐下稳楼市

Investment Rating - The report maintains a "Recommended" rating for companies with a relative increase of over 15% compared to the benchmark index [4] Core Insights - The Shanghai government has implemented a series of policies to stabilize the real estate market, including reducing housing purchase restrictions and optimizing housing provident fund policies [1][2] - The new policies allow eligible residents to purchase an unlimited number of homes outside the outer ring and limit purchases to two homes within the inner ring [1] - The maximum loan amount for housing provident funds has been increased by 15% for buyers of new green buildings, with first-time homebuyers' limits raised from 1.6 million to 1.84 million yuan [2] - The report suggests that the relaxation of policies in Shanghai may serve as a model for other first- and second-tier cities to follow suit [2] Summary by Sections Policy Adjustments - The Shanghai government has introduced measures to reduce housing purchase limits for both local and non-local residents, with specific conditions based on social insurance or income tax contributions [1] - The housing provident fund policy has been optimized to support higher loan amounts and facilitate down payment withdrawals [2] Investment Recommendations - The report recommends focusing on residential developers with a strong reputation and ongoing land acquisitions in the Shanghai market, such as China Jinmao and China Merchants Shekou [3]