Core Viewpoint - The government work report emphasizes the construction of "good houses," marking a shift towards high-quality residential development, which is reshaping the market landscape in Hangzhou post-price control era [1] Group 1: Market Dynamics - The competition for high-quality residential products is intensifying, with Hangzhou entering a "land king" era by the second half of 2025, leading to a refresh in product capabilities and transaction price ceilings [1] - Major projects like the "Yuanqi Guanchaofu" are gaining attention as they embody the "good house strategy," which aims to lead residential innovation through central projects [3] Group 2: Company Strategy - China Resources Land has been active in Hangzhou for 20 years, adopting a strategy of "epoch-making" contributions to the city, which is evident in their recent project launches [1][3] - The company is focusing on "central narrative" in its developments, as seen in the Xi'an CCBD project, which integrates various urban functions and reflects a deep understanding of urban development [5] Group 3: Project Highlights - The Xi'an Three Centers project, which includes the International Conference Center and the International Exhibition Center, aims to enhance both urban and living values through large-scale events [7] - Upcoming projects like the West Lake Lotus Pool TOD project are set to redefine the area, integrating transportation and urban development to create a new growth hub in West Lake District [18][20] Group 4: Future Vision - The West Lake Lotus Pool TOD project is positioned as a comprehensive living solution, aiming to redefine regional consumption and lifestyle, moving beyond traditional residential offerings [20] - The company believes that even in a decentralized era, urban development will still require central leadership, which will be driven by continuous upgrades and iterations from China Resources Land [22]