Company - Poly Development has officially established a green asset-backed securities (ABS) plan with a total funding of 1.594 billion yuan, which has met the target fundraising amount and has been fully allocated to the plan account [1] - China Merchants Shekou has restructured its organizational framework by eliminating five regional companies, allowing the headquarters to directly manage city companies, aimed at reducing management layers [1] Market - In Beijing, the total transaction amount for land auctions in the first half of the year exceeded 100 billion yuan, with 22 residential land parcels sold for a total of 100.556 billion yuan [1] - Beijing has issued approximately 19.6 billion yuan in local government bonds to support municipal infrastructure, affordable housing, and urban renewal projects, with various bond terms and interest rates [2] Policy - Hangzhou has introduced a policy allowing employees to use housing provident fund directly for down payments on new homes, easing the financial burden on homebuyers [2] - Guangzhou plans to require all newly sold residential land to implement prefabricated construction starting in 2026, with specific annual targets for modular building area [3]