事关你的切身利益！多部委亮出2026任务清单 中新网北京1月30日电(记者 高萌)就业、税收、生育、养老、教育等领域的发展变化，无不关系到人民群众的获得感、幸福感、 安全感。近段时间，各部委密集召开工作会议，记者梳理发现，多部委作出2026年工作部署，回应民生关切。 就业：实施稳岗扩容提质行动 出台应对人工智能影响促就业文件 就业是最大的民生。2026年，我国在稳定就业方面有哪些新举措？ 此前召开的全国人力资源和社会保障工作会议提出，2026年将加快构建就业友好型发展方式，深入实施稳岗扩容提质专项行 动，突出抓好重点群体就业。 在27日举行的人力资源和社会保障部新闻发布会上，人社部政策研究司司长、新闻发言人崔鹏程介绍，2026年，人社部将出台 应对人工智能影响促就业文件。同时，人社部将深入实施"技能照亮前程"培训行动，强化高校毕业生等重点群体就业支持，开 展好春风行动暨就业援助季等公共就业招聘专项活动、2026年"春暖农民工"服务行动等。 资料图：招聘会。中新社记者 贾天勇 摄 权益保障：聚焦新就业形态、超龄劳动者 促进落实职工带薪年休假制度 人社部在27日的新闻发布会上表示，2026年将制定《新就业形态劳动 ...

Investment Rating - The report rates the real estate industry as "Outperform" [3] Core Insights - New home transaction area has turned negative on a month-on-month basis, with a year-on-year decline expanding [3][13] - Second-hand home transaction area has increased month-on-month and turned positive year-on-year [3][13] - New home inventory area has decreased both month-on-month and year-on-year, while the de-stocking cycle has increased [3][13] Summary by Sections 1. New Home Market Tracking - In the week of January 17-23, 2026, new home transaction volume in 40 cities was 16,000 units, down 16.2% month-on-month and down 32.2% year-on-year [14][20] - The new home transaction area was 151.5 million square meters, down 9.7% month-on-month and down 39.6% year-on-year [22][39] - Transaction volume and area for first, second, third, and fourth-tier cities showed varying declines [14][19] 2. Second-Hand Home Market Tracking - In 18 cities, second-hand home transaction volume was 20,000 units, up 2.9% month-on-month and up 9.1% year-on-year [49][51] - The transaction area was 188.2 million square meters, up 4.4% month-on-month and up 18.1% year-on-year [51][52] - First, second, third, and fourth-tier cities exhibited different growth rates in transaction volume and area [45][49] 3. Inventory Situation - New home inventory in 12 cities was 1.373 million units, with a month-on-month decrease of 0.1% and a year-on-year decrease of 9.6% [35][38] - The de-stocking cycle for new home inventory was 17.7 months, increasing month-on-month and year-on-year [27][38] - Inventory levels and de-stocking cycles varied across city tiers [26][27] 4. Land Market Tracking - Total land transaction area in 100 cities was 1,044.9 million square meters, down 3.1% month-on-month but up 0.4% year-on-year [59][60] - Total land transaction value was 16.33 billion yuan, down 1.5% month-on-month and down 15.5% year-on-year [10][65] - The average land price per square meter was 1,562.8 yuan, up 1.7% month-on-month but down 15.8% year-on-year [10][61] 5. Policy Insights - The Ministry of Natural Resources and the Ministry of Housing and Urban-Rural Development issued measures to support urban renewal [3] - Emphasis on stabilizing housing prices and improving market confidence through various policy measures [3][11]

周四（1 月 22 日）大盘窄幅震荡，小幅收涨。截至收 盘，上证综指收于 4122.58 点，上涨 0.14%；深成指 收于 14327.05 点，上涨 0.5%；科创 50 上涨 0.41%； 创业板指上涨 1.01%，万得全 A 成交额共 27164 亿元， 较前一日略有上升。 国内市场综述 窄幅震荡 小幅收涨 行业方面，30 个中信一级行业有 21 个上涨，其中石 油石化、建材及通信涨幅居前，而汽车、医药及银行 则跌幅较大。概念方面，玻璃纤维、大飞机及航母等 指数表现活跃。 海外市场综述 美国三大股指全线收涨，脸书涨超 5% 周四（1 月 22 日），美国三大股指全线收涨，道指涨 0.63%，标普 500 指数涨 0.55%，纳指涨 0.91%。万得 美国科技七巨头指数涨 1.47%，脸书涨超 5%，特斯拉 涨逾 4%。中概股多数上涨，小马智行涨近 6%，阿特斯 太阳能涨超 5%。 新闻精要 1. 潘功胜：2026 年中国人民银行将继续实施好适度宽 松的货币政策 2. 落实个人消费贷款最新财政贴息政策 六大行集体 公告 5. 公募基金 2025 年四季报披露收官 6. 全球重要经济数据发布 风险提示 1 ...

明出处为瑞达期货股份有限公司研究院，且不得对本报告进行有悖原意的引用、删节和修改。 本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不 做任何保证，据此投资，责任自负。本报告不构成个人投资建议，客户应考虑本报告中的任何意见或建议是否符合其特定状 | 集运指数（欧线）期货日报 | | 2026/1/22 | | --- | --- | --- | | 项目类别 数据指标 最新 环比 | 数据指标 最新 | 环比 | | EC主力收盘价 1137.700 | 6.6↑ EC次主力收盘价 1399.1 | +31.80↑ | | 期货盘面 EC2604-EC2606价差 -261.40 | -13.10↓ EC2604-EC2608价差 -360.70 | -4.30↓ | | EC合约基差 816.49 40770 | -8.00↓ -529↓ | | | 期货持仓头寸（手） EC主力持仓量 | | | | SCFIS（欧线）（周） 1954.19 SCFI（综合指数）（周） 1574.12 | -2.10↓ SCFIS（美西线）（周） 1,305.27 -73 ...

四大指数走势延续分化 FICC日报 | 2026-01-22 市场分析 关注地产端。宏观方面，针对"十五五"时期如何推动房地产高质量发展，住建部部长倪虹表示，将重点抓好两方 面工作：一是有序推动"好房子"建设；二是加快构建房地产发展新模式，有序搭建房地产开发、融资、销售等基 础制度。在商品房销售上，推进现房销售制，实现"所见即所得"。海外方面，特朗普宣布，已与北约秘书长吕特 就格陵兰岛问题达成协议框架。如果这项方案最终得以落实，将对美国和所有北约成员国都大有裨益。特朗普表 示，将不会实施原定于2月1日生效的关税措施。 指数回升。现货市场，A股三大指数震荡回升，上证指数涨0.08%收于4116.94点，创业板指涨0.54%。行业方面， 板块指数涨多跌少，有色金属、电子、机械设备行业领涨，银行、煤炭、食品饮料行业跌幅居前。当日沪深两市 成交额为2.6万亿元。海外方面，美国三大股指全线收涨，道指涨1.21%报49077.23点。 IH增仓。期货市场，基差方面，股指期货当月合约均升水。成交持仓方面，IH成交量和持仓量同步增加。 | 一、宏观经济图表 3 | | --- | | 二、现货市场跟踪图表 4 | | 三、股 ...

住建部部长倪虹表示，下一步，将继续坚持因城施策、精准施策、一城一策，控增量、去库存、优供 给，发挥好房地产融资"白名单"制度作用，支持房企合理融资需求，支持居民刚性和改善性住房需求， 推动房地产市场平稳运行。加快构建房地产发展新模式。重点是有序搭建房地产开发、融资、销售等基 础制度。在商品房销售上，推进现房销售制，实现"所见即所得"，从根本上防范交付风险。继续实行预 售的，规范预售资金监管，切实维护购房人合法权益。 ①黄金在全球储备资产中占比持续攀升，央行购金趋势未见放缓 摩根士丹利表示，美元在全球体系中的角色正持续、逐步地被削弱，但由于可信的替代货币仍然有限， 在日益多极化的世界中，黄金已成为对美元最大的挑战者。根据摩根士丹利的研究，黄金在各国央行持 有资产中的占比已从约14%上升至25%—28%，且这一上升趋势"没有任何放缓的迹象"。风险溢价以及 对冲行为将持续对美元形成压力，同时支撑黄金需求。此外政策因素对"去美元化"的推动作用目前处 于"中性至略有加速"的状态，而这些政策在短期内的演变，将决定去美元化趋势最终会走多远。 ②中国移动试点线下营业厅销售保险，电信运营商跨界金融业务加速 中国移动通过旗下中移 ...

据新华社，住房城乡建设部党组书记、部长倪虹在接受采访时表示，加快构建房地产发展新模式。牢牢 抓住让人民群众安居这个基点，坚持政策支持和改革创新并举，推动建立"人、房、地、钱"要素联动机 制，确保新旧模式转换平稳有序。下一步，重点是有序搭建房地产开发、融资、销售等基础制度。 在房地产开发上，做实项目公司制，项目公司依法行使独立法人权利，企业总部履行投资人责任，严禁 企业总部在项目交付前违规抽挪项目公司资金、抽逃出资或提前分红，确保项目资金封闭管理、专款专 用。 在房地产融资上，推行主办银行制，一个项目确定一家银行或银团为主办银行，项目开发、建设、销售 等资金存入主办银行，主办银行保证项目公司合理融资需求。 在商品房销售上，推进现房销售制，实现"所见即所得"，从根本上防范交付风险。继续实行预售的，规 范预售资金监管，切实维护购房人合法权益。 （文章来源：新华社） ...

Core Viewpoint - The land transaction scale is expected to rebound in December 2025, with a smaller year-on-year decline, as the traditional peak trading period approaches [1] Group 1: Supply and Demand - As of December 25, 2025, the land supply area is 66.74 million square meters, reflecting a 77% month-on-month decrease and a 26% year-on-year decrease [2] - The decline in year-on-year supply is expanding, with a 14 percentage point increase compared to the previous month [2] - Major cities like Shanghai and Guangzhou have land listings, with Shanghai's land auction prices reaching 2.56 billion yuan for a plot in Pudong [2][3] Group 2: Market Activity - Nationally, the area of land sold through auctions reached 270 million square meters, a 190% month-on-month increase, but a 7% year-on-year decrease [7] - The total transaction amount for land sales is 634.1 billion yuan, up 153% month-on-month but down 15% year-on-year [7] - The average floor price across the country is 2365 yuan per square meter, reflecting a 13% month-on-month decrease [7] Group 3: Market Heat - The average premium rate for land sales in December is 2.1%, indicating a low-level decline [10] - High premium transactions still occur for quality plots, with notable sales in cities like Guangzhou and Shenzhen, where some plots sold at over 15% premium [10][12] - The land auction failure rate is 8%, remaining at a near-low level, with several cities experiencing unsuccessful bids due to uncertain sales prospects [14] Group 4: Key Land Transactions - The highest total price for a land transaction in December is 8.456 billion yuan for a plot in Beijing, with a premium of 0.4% [16] - In Wuhan, several plots were sold at a total price of 12.9 billion yuan, with prime locations near the Yangtze River [4][16] - The highest premium rate was recorded in Shenzhen, where a plot was sold at a 42% premium, totaling 3.2 billion yuan [17]

Core Viewpoint - The long-term supply-demand relationship in the real estate market is improving, with more signs of stabilization expected in 2026 [1][6]. Group 1: Supply and Demand - The supply side continues to control growth, with a significant month-on-month increase in transactions, while year-on-year figures continue to decline. The supply area for December was 66.74 million square meters, down 26% year-on-year. Transaction volume reached 270 million square meters, up 190% month-on-month, but down 7% year-on-year [4][10]. - The average premium rate for land transactions in December was 2.1%, a decrease of 1.5 percentage points month-on-month. The heat of land auctions remains concentrated in a few cities and specific sectors, with high premium land sales in cities like Shenzhen, Guangzhou, and Nanjing [5][22]. - The supply of land is expected to be further optimized in 2026, with a focus on controlling new land supply and promoting the construction of quality housing [14]. Group 2: Market Heat - The average premium rate for December was at a low of 2.1%, indicating a decline in market heat. However, some high-quality plots still achieved high premiums, such as those in Guangzhou and Shenzhen, with Nanjing setting a new city price record [22][30]. - The land auction failure rate was 8%, remaining at a near-low level. Specific cities like Chengdu and Guangzhou experienced land that failed to sell due to uncertain future sales prospects or insufficient bids [25]. Group 3: Key Plots - The highest total price for land transactions in December was for a plot in Beijing's Haidian District, sold for 8.456 billion yuan, with a premium of 0.4%. Other notable transactions included high-premium plots in Shenzhen and Guangzhou [31][32]. - The average floor price for land in Beijing's second ring was 81,000 yuan per square meter, indicating high demand in prime locations [34].

Core Viewpoint - The new policies introduced by the Ministry of Housing and Urban-Rural Development aim to fundamentally eliminate unfinished buildings in the real estate market, marking a shift towards high-quality development and a departure from the previous high-risk, high-turnover model [1][11]. Group 1: Causes of Unfinished Buildings - The root causes of unfinished buildings are complex, primarily stemming from uncontrolled financial supervision and distorted development models. Developers often misuse pre-sale funds for expansion, leading to project funding chain breaks [3]. - Before 2020, deposits and pre-sale funds accounted for over 34% of real estate developers' funding, with some small and medium-sized enterprises relying on pre-sale funds for over 80% of their project financing [3]. Group 2: New Policy Measures - The new policy introduces a "three firewall" approach to mitigate the risk of unfinished buildings. The first firewall is the implementation of a current housing sales system, allowing buyers to see and verify the property before purchase, thus eliminating the anxiety associated with pre-sale properties [4]. - The second firewall focuses on restructuring development and financing mechanisms, requiring each project to establish an independent company to manage funds, ensuring that all sales and loan funds are used exclusively for the project [6]. - The third firewall aims to enhance regulatory and judicial protections, ensuring that pre-sale funds are strictly monitored and used for project construction, while also providing legal safeguards for buyers [7]. Group 3: Impact on the Real Estate Market - The implementation of the new policies will significantly reduce risks for buyers, enhancing transparency regarding property quality and reducing the costs associated with post-purchase rights protection [9]. - Developers will face increased financial pressure as they must rely on their own funds to complete projects, leading to a shift from competition based on scale to competition based on quality [9]. - The new policies will not be implemented uniformly but will consider market differences across cities, allowing for a tailored approach that balances stability and transformation [10]. Group 4: Future Outlook - The implementation of these policies signifies a historic transformation in China's real estate market, with the elimination of unfinished buildings representing a major breakthrough in public welfare and a key indicator of high-quality industry development [11]. - The focus will shift towards building quality housing and communities, establishing a new market ecology characterized by quality and controllable risks [11].