记者22日从自然资源部了解到，为了解决由于历史上一些房地产项目审批、建设、交易、监管等环节不 衔接、不规范，导致登记要件缺失，无法为不动产登记办证的问题，自然资源部、国家金融监督管理总 局、最高人民法院等部门协调联动，全力推动化解部分群众"买了房、拿不到证"的历史遗留难题。 对于超标的查封的，应当及时解除超标的范围的查封； 购房群众就涉案房屋办理预告登记后因其自身债务被查封的，不解除查封不影响为购房群众办理不动产 权证书； 异地法院查封的，属地人民法院应做好协调，两地人民法院不能协调一致的，逐级报请共同上级人民法 院协调解决。 为防止新增问题产生，对于符合法释〔2023〕1号规定情形的，人民法院在查封土地时，应注明已出售 房屋及其对应土地不在查封范围内；对于已办理预告登记或购房群众已支付全部购房款的，不予查封。 针对土地房屋被房企抵押项目办证问题 自然资源部等部门明确，相关政策制定中要贯彻"四个坚持"，即坚持为无过错群众办证，坚持政府主 导、部门联动，坚持历史态度、实事求是，坚持疏堵结合、源头防范。同时，对土地房屋因房企原因被 查封、土地房屋被房企抵押等问题提出以下处理原则： 针对土地房屋因房企原因被查封无法 ...

Group 1 - The company, Zhongyu Land (01224.HK), announced the issuance of a USD 300 million secured note with a 5.20% interest rate, maturing in 2025 [1] - The note was fully redeemed at its principal amount on September 20, 2025, in accordance with its terms and conditions [1] - The note was delisted from the Hong Kong Stock Exchange after the trading session on September 22, 2025 [1]

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints - On September 22, the central bank restarted the 14 - day reverse repurchase operation, the capital market continued to loosen, and the bond market recovered; the main indices of the convertible bond market closed down collectively, and most convertible bonds declined; the yields of US Treasury bonds of various maturities generally increased, and the 10 - year Treasury bond yields of major European economies remained unchanged [1] 3. Summary by Directory 3.1 Bond Market News 3.1.1 Domestic News - Vice - Premier He Lifeng met with a US congressional delegation, emphasizing the importance of Sino - US communication and cooperation in promoting bilateral economic and trade relations [3] - The LPR quotes for two tenors in September remained unchanged, with the 1 - year LPR at 3.00% and the over - 5 - year LPR at 3.50%, which was in line with market expectations [3] - As of the end of June this year, China's banking industry's total assets were nearly 470 trillion yuan, ranking first in the world; the stock and bond markets ranked second in the world; and the foreign exchange reserves ranked first in the world for 20 consecutive years. During the 14th Five - Year Plan period, China's financial risks were generally controllable, and the financial system operated steadily [4] - The CPC Party Group of the Ministry of Finance will coordinate debt replacement, financing platform reform, and accountability for illegal debt - raising [5] - The CPC Party Committee of the CSRC will coordinate the resolution of local financing platform and real - estate enterprise bond risks and support reasonable financing [5] 3.1.2 International News - Three Fed officials expressed concerns about inflation and believed that the space for further interest - rate cuts was limited this year, which may affect the Fed's interest - rate policy in the remaining two meetings [6] 3.1.3 Commodities - On September 22, international crude oil futures prices continued to fall, with WTI October crude futures down 0.06% and Brent November crude futures down 0.16%; COMEX December gold futures rose 1.87%, and NYMEX natural gas prices fell 3.77% [7][8] 3.2 Capital Market 3.2.1 Open Market Operations - On September 22, the central bank conducted 2405 billion yuan of 7 - day reverse repurchase operations and 3000 billion yuan of 14 - day reverse repurchase operations, with a net capital injection of 2605 billion yuan after 2800 billion yuan of reverse repurchases matured [10] 3.2.2 Capital Interest Rates - On September 22, the central bank restarted the 14 - day reverse repurchase operation, and the capital market continued to warm up. Major repurchase interest rates continued to decline, such as DR001 down 3.67bp to 1.428% and DR007 down 2.08bp to 1.489% [11] 3.3 Bond Market Dynamics 3.3.1 Interest - Rate Bonds - **Spot Bond Yield Trends**: On September 22, due to the central bank's restart of the 14 - day reverse repurchase and the loosening of the capital market, the bond market recovered. The yield of the 10 - year Treasury active bond 250011 fell 0.75bp to 1.7875%, and the yield of the 10 - year CDB active bond 250215 fell 1.00bp to 1.9280% [14] - **Bond Tendering Situation**: Information on the issuance scale, winning bid yields, and other aspects of multiple bonds such as 25 Agricultural Development Discount 08 (Increment 3) was provided [16] 3.3.2 Credit Bonds - **Secondary - Market Transaction Anomalies**: On September 22, the transaction prices of 2 industrial bonds deviated by more than 10%, with "16 Longhu 04" down more than 12% and "H1 Yangcheng 01" up more than 1592% [16] - **Credit Bond Events**: There were announcements from companies such as China Aoyuan, Newmi Caiyuan Investment Group, and Kaisa Group regarding debt restructuring, warnings, and other matters [19] 3.3.3 Convertible Bonds - **Equity and Convertible Bond Indices**: On September 22, the three major A - share indices closed up, with the Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index up 0.22%, 0.67%, and 0.55% respectively. The main indices of the convertible bond market closed down, with the China Bond Convertible Bond Index, Shanghai Bond Convertible Bond Index, and Shenzhen Bond Convertible Bond Index down 0.43%, 0.43%, and 0.40% respectively [18] - **Convertible Bond Tracking**: On September 22, Fushi Convertible Bond announced that it was about to meet the early redemption conditions [21] 3.3.4 Overseas Bond Markets - **US Bond Market**: On September 22, the yields of US Treasury bonds of various maturities generally increased, with the 2 - year US Treasury yield up 4bp to 3.61% and the 10 - year US Treasury yield up 1bp to 4.14%. The yield spreads of 2/10 - year and 5/30 - year US Treasury bonds narrowed [22][23] - **European Bond Market**: On September 22, the 10 - year Treasury bond yields of major European economies remained unchanged, including Germany, France, Italy, Spain, and the UK [25] - **Daily Price Changes of Chinese - Issued US - Dollar Bonds**: Information on the daily price changes, including the top 10 gainers and losers, of Chinese - issued US - dollar bonds as of the close on September 22 was provided [27]

Core Viewpoint - The recent land sales in Xiamen indicate a trend of local state-owned enterprises acquiring properties at base prices, reflecting a relatively subdued real estate market since 2025, with only a few high-quality residential plots sold at premium prices [2][5]. Summary by Sections Land Sales Overview - On September 23, four residential plots in Xiamen were sold for a total of 81.25 billion yuan, all acquired by local state-owned enterprises at base prices [2]. - The overall performance of the Xiamen real estate market has been relatively flat since 2025, with most land transactions occurring at base prices [2]. Detailed Analysis of Sold Plots - **Plot 078 (Siming District)**: Acquired by Xiamen Guomao for 22.2 billion yuan, with a floor price of 40,000 yuan/sqm. The plot is located in a core urban area and is expected to attract high-net-worth individuals due to its proximity to tech and service industries [5]. - **Plot 079 (Huli District)**: Acquired by Jianfa Real Estate for 20.38 billion yuan, with a floor price of 40,000 yuan/sqm. The site is conveniently located near public transport and various amenities, enhancing its residential appeal [9]. - **Plot 080 (Jimei District)**: Acquired by Xiangyu and Jimei Development for 22.69 billion yuan, with a floor price of 22,000 yuan/sqm. The area is expected to benefit from educational institutions, which may drive up property values [12]. - **Plot 081 (Haicang District)**: Acquired by Xiamen Metro for 15.98 billion yuan, with a floor price of 18,000 yuan/sqm. This plot is the last available for development on Dongyu Island, offering ecological advantages despite lower visibility due to surrounding developments [16]. Market Context - The overall trend in Xiamen's land sales suggests a cautious approach from developers, with most transactions occurring at base prices and limited premium sales, indicating a potential stagnation in the real estate market [2][5].

Core Viewpoint - Chongqing Chengtou Holdings (01224) announced the issuance of guaranteed notes by its wholly-owned subsidiary, Perfect Point Ventures Limited, amounting to USD 300 million with a 5.20% interest rate, maturing in 2025 [1] Group 1 - The notes are set to be fully redeemed at their principal amount upon maturity on September 20, 2025 [1] - The listing of these notes will be withdrawn from the Hong Kong Stock Exchange after the trading session on September 22, 2025 [1]

Group 1 - The company Zhongyu Land (01224) announced the issuance of guaranteed notes amounting to 300 million USD with a 5.20% interest rate, maturing in 2025 [1] - The notes were fully redeemed at their principal amount on September 20, 2025, according to the terms and conditions of the notes [1] - The listing of the notes was withdrawn from the Hong Kong Stock Exchange after the trading session on September 22, 2025 [1]

23日早盘，两市主要股指盘中震荡下探，沪指跌超1%失守3800点，深证成指、创业板指跌近2%，场内 超4900股飘绿。 校对： 赵燕 截至午间收盘，沪指跌1.23%报3781.61点，深证成指跌1.84%，创业板指跌1.75%，北证50指数跌逾 3%，沪深北三市合计成交17137亿元。 （文章来源：证券时报网） 中信建投证券表示，美联储降息落地后，"十五五"有望成为下一阶段市场关注重点，"反内卷"、服务消 费、提振内需、产业升级等构成重要内容。总体来说，目前市场仍处高位，没有明显冲顶和回落趋势， 前期热门赛道间轮动加剧，指数整体处于横盘整理阶段，参考历史回踩的最终点位可能就在60日均线。 在此期间大概率依然会延续轮动+前期高标杀跌的特点。建议短期仍以横盘心态应对市场，重视赛道行 业轮动，轻指数而重个股。建议埋伏低位板块与聚焦"拒绝调整"相关股票。 盘面上看，旅游出行、地产、医药、券商、酿酒等板块均走低，银行板块逆市拉升，中特估概念活跃。 ...

Group 1 - The China Securities State-Owned Enterprises Dividend Index (000824) decreased by 0.17% as of September 23, 2025, with Nanjing Bank (601009) leading the gains at 4.30% [1] - The People's Bank of China announced on September 19 that it would adjust the 14-day reverse repurchase operations to a fixed quantity and interest rate bidding, which aims to enhance liquidity management [1] - Analysts from Galaxy Securities believe this adjustment will improve the pricing mechanism of interest rates and enhance liquidity management efficiency, giving larger state-owned banks a competitive edge over smaller banks [1][2] Group 2 - The China Securities State-Owned Enterprises Dividend Index consists of 100 listed companies selected for their high and stable cash dividend yields, reflecting the overall performance of high-dividend state-owned enterprises [2] - As of August 29, 2025, the top ten weighted stocks in the index accounted for 16.84% of the total index, including companies like COSCO Shipping Holdings (601919) and Jizhong Energy (000937) [2] - The National State-Owned Enterprises Dividend ETF (159515) closely tracks the performance of the index, providing investors with exposure to high-dividend state-owned enterprises [2]

Report Summary Industry Investment Rating No industry investment rating information is provided in the report. Core Viewpoints - The central bank restarted the 14 - day reverse repurchase operation to regulate cross - quarter funds and maintain liquidity. The reform of the capital market is expected to support the A - share market. The lithium - ion battery export continues to grow, and the energy equipment industry is expected to expand. If the cobalt export ban in Congo (Kinshasa) is extended, the cobalt price may rise. Attention should be paid to the progress of Sino - US leaders' meeting. The domestic economic activity in August weakened comprehensively [2][3][4][5][7] - The real estate sales in September showed a short - term rebound but will face a high - base effect in the fourth quarter. The port activities were slightly active, while the auto sales were weak. The government may increase fiscal support and cut policy interest rates in the future [6][9] Summary by Related Catalogs Macro - economic News - The central bank carried out 300 billion yuan of 14 - day reverse repurchase operations and 240.5 billion yuan of 7 - day reverse repurchase operations on September 22, aiming to regulate cross - quarter funds and maintain liquidity [2] - The China Securities Regulatory Commission Chairman introduced the achievements of the capital market during the "14th Five - Year Plan" period, and the reform is expected to support the A - share market [2] - The Ministry of Foreign Affairs stated that the Sino - US leaders maintain close communication, and the progress of the meeting needs to be closely watched [3] - From January to August, the export volume of domestic lithium - ion batteries was 3.003 billion, with a year - on - year increase of 18.66%, and the export value was 48.296 billion US dollars, with a year - on - year increase of 25.79%. In August 2025, the export value was 7.153 billion US dollars, with a year - on - year increase of 23.51%, and the export volume was 436 million, with a year - on - year increase of 18.24%. Attention should be paid to relevant companies with a high proportion of lithium - ion battery business [4] - The National Energy Administration and other departments proposed that by 2030, China's energy key equipment industry chain and supply chain will achieve self - control. Attention should be paid to energy equipment manufacturing companies [4] - Congo (Kinshasa) will extend the cobalt export ban until October 15 and implement an annual export quota from October 16. The short - term cobalt price may rise [5] - In August, domestic economic activities weakened comprehensively. Fixed - asset investment, real estate, consumption, industry, services, and exports all declined to varying degrees [7] - Chinese banks are guided to issue loans to local government - related entities to repay their debts. Local governments are accelerating the issuance of "special new local government bonds" for debt replacement and repayment [8] - The government may increase fiscal support by about 0.5% of GDP and cut policy interest rates by 20 basis points in the next 2 - 3 quarters [9] Economic Data - The sales growth rate of 30 - city real estate rebounded from - 10% in August to 15% in early September. The port cargo throughput growth rate rebounded from 5% in August to 7% in early September, and the container throughput growth rate rebounded from 8% to 12%. The steel production decline rate narrowed slightly, and the auto sales and wholesale declined. The net issuance of national debt and new special local government bonds slowed down [6] Market Data - The 10 - year Treasury bond yield was 1.863, with a change of - 1.50BP; DR007 was 1.489, with a change of - 2.08BP; USDCNH was 7.1157, with a decline of 0.05%; the US dollar index was 97.31, with a decline of 0.35% [10][12] - The latest A - share market turnover was 2142.5 billion yuan, the turnover rate was 3.92%, and the margin trading balance was 2381.6 billion yuan (as of September 19, 2025) [20] - The top three rising industries were electronics, computer, and non - ferrous metals. The top three industries with net capital inflows on the day were electronics, computer, and machinery equipment. The top three industries with net capital inflows at the end of the session were electronics, computer, and non - banking finance [23][25] - From September 19 to 22, the proportion of TMT trading volume increased by 3.20%, while that of other sectors decreased to varying degrees [30]

一边是铺满光伏玻璃、造型未来感十足的零碳大厦；另一侧是鱼骨状胡同串联起一片片青砖灰瓦、朱门雕梁的四合院。这样看似风格迥异却又有机混搭 的场景，让人群中不断发出"ol锓Bravo"（意为好哇）的赞叹。 9月20日，2025"一带一路"媒体合作论坛中外媒体联合采访团来到位于北京市西城区骡马市大街的中海大吉巷，通过这个北京城市更新的样本，他们感 受到中国传统文化与现代城市商圈的融合。 中海大吉巷是北京宣南地区会馆、名人、商业文化的集中承载地区之一。据了解，明朝嘉靖年间加筑北京外城时设"七坊"，"宣南坊"是其中一个坊，宣 南一词由此而来。宣南地区作为北京建城起源地之一，也被视为北京文化的重要源头。作为宣南文化集中承载地之一的中海大吉巷，保存着大量明清至近代 的历史建筑群，包括康有为故居、米市胡同29号院、《每周评论》旧址等珍贵的文保建筑，是北京"历史文化名城"的金名片。然而在时间侵蚀与城市化的进 程中，这些珍贵建筑的保护曾面临严峻挑战 2025"一带一路"媒体合作论坛中外媒体联合采访团在中海大吉巷商圈采访。 人民日报记者 张武军摄 据中海发展投拓总监、北京新城公司总经理张欣介绍，为了完整保存大吉巷的文化历史，秉持"像 ...