经济观察网 据央视新闻客户端消息，"十五五"规划建议提出，坚持城市内涵式发展，大力实施城市更 新，建设创新、宜居、美丽、韧性、文明、智慧的现代化人民城市。今年是"十五五"开局之年，国家在 推进城市更新工作方面将有哪些重点部署？来看总台央视记者对住房城乡建设部部长倪虹的专访。 先体检后更新 高质量推进城市更新 住房城乡建设部部长倪虹介绍，2025年我国城市更新工作取得明显成效。全国开工改造城镇老旧小区 2.6万个，加装电梯1.4万部，改善了居住条件，惠及470多万居民；打造"口袋公园"4700多个、城市绿道 5800多公里，提升了城市人居环境；建设改造地下管网15.6万公里，增强了城市韧性。 下一步，高质量推进城市更新，关键是要找准问题、有效解决问题。国家将坚持先体检、后更新，以体 检找出的问题作为城市更新的重点，统筹实施好一系列民生工程、发展工程、安全工程。 倪虹表示，民生工程重点是三件事： 持续推进城镇老旧小区改造，抓好"楼道革命""环境革命""管理革命"。 全面推进完整社区建设，更加呵护"一老一小"，着力补上公共服务设施短板。 与此同时，还将通过更新改造老旧街区、老旧厂区，打造一批精品街道、活力街区，通过 ...

Core Viewpoint - The proposal by the Suzhou Municipal Committee emphasizes the promotion of high-quality development in the real estate sector, advocating for a new development model and dynamic policy adjustments to meet housing needs [1] Group 1: Real Estate Development - The plan aims to accelerate the construction of a new model for real estate development, focusing on multi-subject supply and multi-channel security [1] - It highlights the importance of optimizing the supply of affordable housing to meet the basic housing needs of urban workers and various disadvantaged families [1] - The initiative includes increasing efforts in housing exchanges and the use of housing vouchers to revitalize existing residential properties [1] Group 2: Quality and Innovation in Housing - The proposal promotes the construction of high-quality residential buildings and encourages the development of innovative industrial communities, business communities, and youth-oriented communities [1] - It calls for actions to enhance property service quality and to steadily advance the renovation of urban villages and dilapidated housing [1] - The plan also encourages the autonomous upgrading of old residential areas and addresses challenges such as elevator installation, parking, and charging facilities [1] Group 3: Industry Transformation and Sustainability - There is a focus on cultivating a smart construction industry chain and promoting the transformation of the construction sector [1] - The initiative aims to enhance energy efficiency and carbon reduction in the construction field, fostering new growth points in green building [1]

新华社北京1月21日电 题：建设现代化人民城市 实现住房城乡建设高质量发展——访住房城乡建设部党 组书记、部长倪虹 新华社记者王优玲 "十五五"规划建议围绕"深入推进以人为本的新型城镇化""推动房地产高质量发展"作出重要部署，提 出"大力实施城市更新""加快构建房地产发展新模式"等具体举措。近期召开的中央经济工作会议也明确 要求"着力稳定房地产市场"。 "十五五"新开局，城市更新将如何推进？房地产高质量发展有哪些着力点？打造"中国建造"升级版将从 哪些方面开展工作？新华社记者采访了住房城乡建设部党组书记、部长倪虹。 奋力实现住房城乡建设高质量发展的良好开局 问："十五五"时期是基本实现社会主义现代化夯实基础、全面发力的关键时期。住房城乡建设部对于实 现住房城乡建设高质量发展有什么考虑？ 答："十五五"时期，住房城乡建设总体上处在转型发展的关键期，既伴随不少挑战，更面临难得机遇。 2026年是"十五五"开局之年。住房城乡建设部将大力实施城市更新行动，推动房地产高质量发展，推进 建筑业提质升级，建设创新、宜居、美丽、韧性、文明、智慧的现代化人民城市，奋力实现住房城乡建 设高质量发展的良好开局。 我们将坚持城市内涵 ...

"十五五"规划建议围绕"深入推进以人为本的新型城镇化""推动房地产高质量发展"作出重要部署，提 出"大力实施城市更新""加快构建房地产发展新模式"等具体举措。近期召开的中央经济工作会议也明确 要求"着力稳定房地产市场"。 "十五五"新开局，城市更新将如何推进？房地产高质量发展有哪些着力点？打造"中国建造"升级版将从 哪些方面开展工作？新华社记者采访了住房城乡建设部党组书记、部长倪虹。 奋力实现住房城乡建设高质量发展的良好开局 问："十五五"时期是基本实现社会主义现代化夯实基础、全面发力的关键时期。住房城乡建设部对于实 现住房城乡建设高质量发展有什么考虑？ 答："十五五"时期，住房城乡建设总体上处在转型发展的关键期，既伴随不少挑战，更面临难得机遇。 2026年是"十五五"开局之年。住房城乡建设部将大力实施城市更新行动，推动房地产高质量发展，推进 建筑业提质升级，建设创新、宜居、美丽、韧性、文明、智慧的现代化人民城市，奋力实现住房城乡建 设高质量发展的良好开局。 我们将坚持城市内涵式发展，把城市更新作为重要抓手，统筹落实"一个优化、六个建设"重要任务，统 筹构建城市更新体制机制，系统推进好房子、好小区、好社区、好 ...

新华社北京1月21日电 题：建设现代化人民城市 实现住房城乡建设高质量发展——访住房城乡建设部党 组书记、部长倪虹 新华社记者王优玲 "十五五"规划建议围绕"深入推进以人为本的新型城镇化""推动房地产高质量发展"作出重要部署，提 出"大力实施城市更新""加快构建房地产发展新模式"等具体举措。近期召开的中央经济工作会议也明确 要求"着力稳定房地产市场"。 "十五五"新开局，城市更新将如何推进？房地产高质量发展有哪些着力点？打造"中国建造"升级版将从 哪些方面开展工作？新华社记者采访了住房城乡建设部党组书记、部长倪虹。 奋力实现住房城乡建设高质量发展的良好开局 问："十五五"时期是基本实现社会主义现代化夯实基础、全面发力的关键时期。住房城乡建设部对于实 现住房城乡建设高质量发展有什么考虑？ 答："十五五"时期，住房城乡建设总体上处在转型发展的关键期，既伴随不少挑战，更面临难得机遇。 2026年是"十五五"开局之年。住房城乡建设部将大力实施城市更新行动，推动房地产高质量发展，推进 建筑业提质升级，建设创新、宜居、美丽、韧性、文明、智慧的现代化人民城市，奋力实现住房城乡建 设高质量发展的良好开局。 我们将坚持城市内涵 ...

"十五五"规划建议围绕"深入推进以人为本的新型城镇化""推动房地产高质量发展"作出重要部署，提 出"大力实施城市更新""加快构建房地产发展新模式"等具体举措。近期召开的中央经济工作会议也明确 要求"着力稳定房地产市场"。 "十五五"新开局，城市更新将如何推进？房地产高质量发展有哪些着力点？打造"中国建造"升级版将从 哪些方面开展工作？新华社记者采访了住房城乡建设部党组书记、部长倪虹。 奋力实现住房城乡建设高质量发展的良好开局 问："十五五"时期是基本实现社会主义现代化夯实基础、全面发力的关键时期。住房城乡建设部对于实 现住房城乡建设高质量发展有什么考虑？ 答："十五五"时期，住房城乡建设总体上处在转型发展的关键期，既伴随不少挑战，更面临难得机遇。 2026年是"十五五"开局之年。住房城乡建设部将大力实施城市更新行动，推动房地产高质量发展，推进 建筑业提质升级，建设创新、宜居、美丽、韧性、文明、智慧的现代化人民城市，奋力实现住房城乡建 设高质量发展的良好开局。 我们将坚持城市内涵式发展，把城市更新作为重要抓手，统筹落实"一个优化、六个建设"重要任务，统 筹构建城市更新体制机制，系统推进好房子、好小区、好社区、好 ...

Core Viewpoint - Hefei City is set to implement a comprehensive strategy for high-quality real estate development by 2025, focusing on enhancing housing rental services and improving overall living conditions for renters [1] Group 1: Housing Supply and Development - By 2025, Hefei plans to complete and operate 21 high-quality comprehensive rental communities, providing a total of 7,283 rental units, thereby enhancing the attractiveness and capacity of rental housing [1] - The city will adopt a "stock to increment" model to revitalize existing resources, hosting two promotional events for stock asset projects, attracting 43 quality projects and 35 rental companies, resulting in two stock projects connecting with specialized operating institutions [1] - By 2025, the total number of centralized rental housing projects in Hefei will reach 197, with a total of 76,600 rental units, creating a multi-tiered and high-quality rental supply system [1] Group 2: Digital Transformation in Rental Services - Hefei is leveraging digital reform to transform rental services into a more transparent, convenient, and efficient process [1] - The "Hefei Housing" app and WeChat mini-program will be upgraded to enhance functionality, showcasing over 100 projects from state-owned rental enterprises and 45,000 units of quality centralized housing, with the mini-program achieving over 10 million annual visits, becoming a key online platform for residents seeking rental properties [1]

Policy Overview - The Ministry of Housing and Urban-Rural Development (MOHURD) has outlined four key tasks for 2026, focusing on stabilizing the real estate market and promoting urban renewal[4] - The People's Bank of China (PBOC) emphasizes the integration of incremental and stock policies to enhance monetary policy effectiveness, aiming for a balance between social financing and economic growth[5] Local Policy Adjustments - Beijing has relaxed home purchase restrictions for non-residents and families with multiple children, reducing the social security or tax payment requirement from 3 years to 2 years within the Fifth Ring Road[9] - Shanghai's Putuo District has introduced a "housing ticket reward" for residents affected by urban renewal projects, offering 1,000 RMB per square meter for eligible home purchases[11] Housing Quality Improvement Initiatives - The MOHURD is seeking public input on a draft aimed at improving housing quality by 2030, with a focus on enhancing construction standards and promoting better materials[8] - Nanjing's Qixia District has launched a talent housing ticket policy, providing up to 200 million RMB in subsidies for qualified individuals[12] Financial Policy Enhancements - Recent adjustments in housing provident fund policies in cities like Xuzhou allow for the withdrawal of funds to cover property management fees, with a cap of 8,000 RMB[13] - The report indicates a trend of increasing housing policy frequency, with 52 policies introduced in December alone, reflecting a proactive approach to market stabilization[17]

Core Insights - The real estate market in 2026 is undergoing a historic transformation, moving away from the previous era of guaranteed profits from property purchases, with new rules emerging for homebuyers [1][10] Group 1: Policy Signals - The first major signal indicates a solidification of policy support, entering a new phase of "precise reduction of burdens" for demand, focusing on activating reasonable housing demand rather than broad stimulus [3][4] - Significant reductions in transaction costs are central to the policy benefits, with tax incentives for homebuyers and optimized VAT policies leading to the lowest purchasing costs in five years [3][4] - The policies are specifically aimed at addressing reasonable housing needs, with measures such as lower down payment ratios and reduced mortgage rates for first-time buyers [4][5] Group 2: Market Differentiation - The second major signal highlights a comprehensive market differentiation, where "quality becomes king" over the previous "location is everything" mindset, indicating a shift in investment logic [5][7] - Urban and regional differentiation is an irreversible trend, with core areas experiencing price increases while lower-tier cities face significant declines, driven by population movement and resource concentration [7][8] - The demand for high-quality housing is rising, with a notable increase in the proportion of transactions for quality improvement units, while non-quality assets struggle to sell even at steep discounts [7][8] Group 3: Investment Strategy - The investment logic for 2026 has shifted from a vague decision of "whether to buy" to a precise decision of "where to buy, what to buy, and when to buy," emphasizing the need for strategic alignment with market trends [8][9] - Buyers are encouraged to focus on core areas with population inflows, prioritizing first-tier and strong second-tier cities, while avoiding third and fourth-tier cities with high inventory cycles [9] - Product selection should emphasize quality and practicality, with a focus on compact units for first-time buyers and quality units for those looking to upgrade, while avoiding non-quality assets [9]

Market Performance - The Shanghai Composite Index rose by 3.8%, the Shenzhen Component Index increased by 4.4%, and the ChiNext Index went up by 3.9% this week [1] - The real estate sector (Shenwan) saw a rise of 5.1% [1] - The top five stocks by percentage increase were Chengjian Development (+34.5%), Yingxin Development (+22.0%), Shangshi Development (+20.8%), *ST Rongkong (+19.7%), and *ST Yangguang (+16.0%) [1] - The bottom five stocks by percentage decrease included Hainan Airport (-7.9%), Guangming Real Estate (-7.2%), Hezhan Energy (-5.5%), Shoukai Shares (-5.0%), and China Wuyi (-2.0%) [1] Real Estate Data Tracking - New homes: In the week of January 3-9, 42 key cities recorded a total transaction of 1.37 million square meters, a month-on-month decrease of 46.7% [1] - For January up to the week of January 9, new home transactions totaled 1.55 million square meters, down 30.1% month-on-month and 46.6% year-on-year [1] - Second-hand homes: In the week of January 3-9, 21 key cities saw a total transaction of 2.06 million square meters, a month-on-month increase of 25.4% [1] - For January up to the week of January 9, second-hand home transactions totaled 2.14 million square meters, down 16.1% month-on-month and 23.9% year-on-year [1] Industry News - The State Council, led by Premier Li Qiang, held a meeting to implement a package of fiscal and financial policies to boost domestic demand, including expanding the scope of public rental housing [2] - The central bank emphasized the continuation of a moderately loose monetary policy and the integration of incremental and stock policy effects [2] - Local policies include Shanghai's efforts to improve fair competition review mechanisms and Henan's support for local governments to issue special bonds for purchasing existing homes for affordable housing [2] - In Shenyang, the down payment for housing has been reduced to 15% until the end of 2026, while Chengdu extended its housing mutual assistance policy until the end of 2026 [2] Company Announcements - In December 2025, the sales figures for major real estate companies were as follows: Poly Development at 12.16 billion yuan (-18.9%), China Merchants Shekou at 25.84 billion yuan (-14.5%), and New Town Holdings at 1.35 billion yuan (-57.8%) [2] - China Overseas Development issued bonds with a 3-year term at an interest rate of 1.60%-2.60% and a 5-year term at 1.80%-2.80% [2] Personnel Changes - Vanke A's Yu Liang retired due to age, resigning from his positions as director and executive vice president [3] Investment Analysis - The real estate sector remains a crucial asset allocation and investment direction for Chinese households, with stable housing prices being significant for economic circulation [3] - The 20th Central Committee's emphasis on promoting high-quality development in real estate suggests potential policy support [3] - High-quality residential properties may see a development wave due to policy guidance and changes in supply-demand structure [3] - The Hong Kong private residential market sentiment is gradually recovering, indicating a potential revaluation for Hong Kong developers [3] - The sector is rated "positive," with recommended companies including China Resources Land, China Merchants Shekou, New Town Holdings, and others [3]