上海楼市新政"组合拳"来了！ 8月25日，上海对房地产市场政策进行优化调整，涉及住房限购、公积金、住房信贷、住房税收等方面调整，这是今年以来首次调整。 核心内容有以下几点： 此前北京松绑五环外的限购时，我们预计上海也会出台相应措施，如今靴子落地。对比北京，上海限购调整力度大于市场预期。 上海、北京楼市限购政策松绑有一个共同点，即"核心区严控、郊区松绑"，这已成为房地产市场因城施策新的风向标。 符合条件家庭外环外不限套数 政策力度大于预期 此次调整最大的亮点是进一步调减外环外住房限购政策。 一是符合条件的居民家庭，在外环外购房不限套数。即户籍家庭、社保满1年的非户籍家庭，在外环外购买一二手房不再限制套数。从非户籍家庭社保年 限来看，上海外环外购房社保年限门槛仅为1年，低于北京的2年，力度明显比北京大。 | | 调整前 | | | 调整后 | | | | --- | --- | --- | --- | --- | --- | --- | | 户籍 | 购房条件 | 限购套数 | 户籍 | 区域 | 购房条件 | 限购套数 | | 沪籍家庭 | | 2套 | | 外环外 | | 不限套数 | | 沪籍单身 | | ...

Core Viewpoint - The recent adjustment of housing purchase restrictions in Shanghai's outer ring is expected to significantly alleviate the pressure on high inventory areas and stimulate demand, surpassing market expectations following similar changes in Beijing [2][4]. Group 1: Policy Adjustments - The new policy allows eligible families (local residents and non-local residents with at least one year of social insurance or tax payments) to purchase an unlimited number of homes in the outer ring, while single adults are treated as families [4][5]. - The policy also includes a tax exemption for the first home purchased by non-local families and a deduction of 60 square meters for the second and subsequent homes [5]. Group 2: Financial Support Measures - The housing provident fund loan limits have been significantly increased, with the maximum loan for first-time buyers raised from 1.6 million to 1.84 million yuan, and for families with multiple children, it can go up to 2.16 million yuan [6]. - The new policy allows for the withdrawal of provident fund for down payments and supports the "withdraw and loan again" mechanism, which does not affect the loan limit calculation [6]. Group 3: Market Implications - The adjustment of commercial housing loan interest rates will no longer differentiate between first and second homes, aiming to reduce the financial burden on homebuyers [7]. - The overall strategy of "strict control in core areas, relaxation in suburbs" is designed to alleviate inventory pressure, boost the economy, and support population dispersal and regional collaboration [7].

一线城市楼市新动作又成焦点。 日前，北京出台楼市新政，除放宽五环外限购政策外，加大了公积金贷款支持力度，包括优化首二套房 认定、提高二套房公积金贷款额度、降低二套房首付比例等。 "文件生效就可以（按照新规）做（贷款）了，主要是二套房受益比较大。"第一财经记者周一以购房者 身份咨询时，北京一国有大行工作人员表示，该行自上周六（8月9日）已开始执行新的住房公积金贷款 政策。 上周五（8月8日），北京市住房和城乡建设委员会、北京住房公积金管理中心发布《关于进一步优化调 整本市房地产相关政策的通知》（下称《通知》），一方面进一步优化五环外限购政策，另一方面加大 了住房公积金贷款支持力度。文件自8月9日起施行。 新规涉及公积金贷款的内容调整力度较大。首先是优化首二套房认定标准：《通知》称，住房公积金个 人住房贷款借款申请人（含共同申请人）在北京市无住房，且全国范围内无公积金贷款（含住房公积金 政策性贴息贷款）或使用过1次公积金贷款并已结清的，执行首套住房公积金贷款政策。 其次是提高二套住房公积金贷款额度：《通知》称，借款申请人使用公积金贷款购买二套住房的，最高 贷款额度为100万元，最低首付款比例不低于30%。 这也意 ...

Report Summary 1. Report Information - Research variety: Soda ash - Report cycle: Daily report - Date of composition: July 23, 2025 [1] 2. Futures Market 2.1 Contract Quotes - On July 23, 2025, the soda ash futures faced pressure and pulled back. The opening price of Soda Ash 2509 (SA509) was 1376 yuan/ton, the highest price was 1394 yuan/ton, the lowest price was 1300 yuan/ton, and the closing price was 1338 yuan/ton, up 9 yuan/ton or 0.68% from the previous trading day's settlement price. The trading volume was 3.307 billion hands, an increase of 197 million hands from the previous day, and the open interest was 1.037 billion hands, a decrease of 37.3 million hands from the previous day [2] 2.2 Variety Prices - The report provides the opening and highest prices of Soda Ash 2508, Soda Ash 2509, and Soda Ash 2601 contracts on July 23, 2025 [5] 3. Spot Market - The report presents the domestic soda ash price summary table on July 23, 2025, showing price changes compared to July 22, 2025 [6] 4. Influencing Factors 4.1 Policy - related - Policy expectations such as the steady - growth plan for the building materials industry and the "city - specific policies" in the real estate sector, combined with low inventory, have driven market sentiment up [7] 4.2 Fundamental Analysis - Supply side: The weekly output was 568,800 tons, a month - on - month increase of 0.61%. However, summer maintenance led to supply contraction, and the release progress of new capacity from Yuanxing was slower than expected. - Demand side: The daily melting volume of float glass was 168,000 tons, a month - on - month increase of 0.76%, and the rigid demand for heavy soda ash procurement increased [8] 4.3 Technical Analysis - The price of the Soda Ash 2509 (SA509) contract deviated from the 5 - day moving average today, and there may be a need for technical repair. However, the trend indicator still maintained a bullish signal, indicating that the short - term trend is still upward, but the repair demand may cause the price to pull back to some extent [9] 5. Market Outlook - The current soda ash futures price may be supported by policies and maintenance factors and remain in a relatively strong state. In the long run, Yuanxing's second - phase 2.8 million - ton capacity is expected to be put into production in August, which will increase market supply, and the soda ash futures price may face valuation pressure. In addition, if the inventory inflection point appears, that is, the inventory starts to rise, it may also lead to a price pullback. Traders need to beware of the short - selling risk brought about by the accelerated release of Yuanxing's capacity or the increase in inventory [12]