点评：这一举措旨在构建"市场 + 保障"住房体系。对持有存量房的房企而言，若达成交易，能加快库存 去化，盘活资金，优化资产结构，并为解决存量房难题提供新路径，推动房地产市场供需结构优化。 NO.3 万科向深铁集团质押1.17亿股万物云股份 7月7日，万科企业公告称，于当日交易时段后，万科（作为出质人）与深圳地铁集团（作为质权人）进 一步订立股份质押协议，须按70%的质押率（即价值不超过22.16亿元）向深圳地铁集团提供资产抵 押。据此，万科同意初步质押1.17亿股万物云股份，占万物云已发行股本总额约10.11%，作为资产抵押 向深圳地铁集团担保，确保公司履行还款责任。根据贷款协议，万科亦可向深圳地铁集团申请贷款延 期，需经后者审批。 点评：这一操作反映出万科在当前市场环境下，借助大股东支持稳定资金链的意图。对万科而言，能获 取资金偿债，有利于缓解债务压力、维持运营稳定；同时也展现出地产企业通过股权运作改善财务的趋 势，或引发其他企业效仿。 NO.4 时代中国公布29亿美元境外债重组方案 NO.1 广东明确小产权房一律不得登记 日前，广东省自然资源厅印发的《关于加快解决国有建设用地上不动产登记若干历史遗留问题的 ...

Group 1 - The core viewpoint of the report indicates that the Beijing office market remained relatively stable in Q2 2025, with technology companies leading in leasing activities, enhancing market liquidity and boosting confidence in the commercial real estate sector [1] - Domestic buyers continue to show strong interest in retail and office assets in Beijing, driven by the value gap effect of quality assets in core business districts and the ongoing release of self-use demand from enterprises, which is expected to optimize the supply-demand structure in the long term [1] - The high-end residential market saw significant growth in both supply and sales volume in the first half of the year, with approximately 3,300 new luxury apartments supplied in Q2, surpassing the total supply for the entire year of 2024, and Q2 sales reached about 2,100 units, marking the highest quarterly sales in the past two years [1] Group 2 - The monetary policy, including interest rate cuts in May, has created a relatively loose credit environment for the residential market, with expectations of a significant increase in new home transaction volumes compared to the previous year due to favorable market conditions and price advantages for buyers [2]