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Affected by the latest tone of the Politburo meeting, real estate stocks are boiling collectively.

After the market opened on July 25th, the real estate development sector continued to strengthen, with Rong Sheng Development, Jinke and Zhongnan Construction increasing daily, while Dima, Huayuan Real Estate, Tianfang Development, gemdale, Binjiang Group, Caixin Development, Xincheng Holding, Poly Development, Huafa and SIC were among the top gainers, while only one of the sector’s constituent stocks declined slightly.

In terms of Hong Kong stock real estate, Longhu Group increased by as much as 21.92%, Country Garden Service increased by 21.32%, Hejing Taifu Group increased by 17.58%, New Town Development increased by 16.54%, Longguang Group increased by 15.94%, Country Garden increased by 15.87%, New Town Yue Service increased by 14.65%, Zhongjun Group Holdings increased by 14.10% and Agile Group increased by 13.88.

The real estate-related industrial chain has also been boosted, with stocks such as Goodwife, Piano, Zhibang Home and Wrigley Home in the home sector trading daily; The building materials sector also showed positive performance, with Zhengyuan shares and Bunny trading daily, and Oriental Yuhong approaching the daily limit.

Such rare fervor of real estate stocks stems from the latest tone of the the Political Bureau of the Communist Party of China (CPC) Central Committee meeting on real estate.

On July 24th, the Politburo meeting pointed out that it is necessary to effectively prevent and resolve risks in key areas, adapt to the new situation in which the supply and demand relationship in China’s real estate market has undergone major changes, adjust and optimize real estate policies in a timely manner, and make good use of the policy toolbox because of the city’s policy, so as to better meet the rigid and improved housing needs of residents and promote the stable and healthy development of the real estate market. It is necessary to increase the construction and supply of affordable housing, actively promote the transformation of urban villages and the construction of "flat and emergency dual-use" public infrastructure, and revitalize all kinds of idle real estate.

Compared with previous Politburo meetings, this meeting has adjusted the latest situation judgment of the real estate market: the relationship between supply and demand in the real estate market in China has undergone major changes, and it is first proposed to adjust and optimize the real estate policy in a timely manner, and change "supporting" the newly changed demand into "better meeting".

The major change in the industry situation means that the property market has stepped into a flat or even depressed situation from the high state in the past few years. According to the data of Ping An Securities, the property market transaction has been weakening since the second quarter. In June, the sales of commercial housing fell by 18.2% in a single month. In the medium and long term, with the slowdown of urbanization rate, the per capita living area of cities and towns has been greatly improved, and the potential demand is also under pressure.

Ping An Securities said that the domestic real estate market has once again entered a new stage after experiencing "demand exceeds supply" to "structural demand exceeds supply". The meeting pointed out that the real estate policy should be adjusted and optimized in a timely manner, and the demand-side policy optimization such as restricting loans and purchases in short-term key cities is worth looking forward to because the city makes good use of the policy toolbox to better meet the rigid and improved housing needs of residents.

Huatai Securities also said that the "new" real estate situation is aimed at the "old" situation that the market demand exceeds supply for a long time in the past, which led to the continuous rise of house prices, so it is necessary to "live and not speculate". At present, the real estate market has returned to decline after a short period of repair. In the first half of 2023, the sales area and sales amount of commercial housing were -2.8% and +3.7% respectively, and house prices rose first and then fell. In June, the prices of new and second-hand houses in 70 cities were -0.1% and -0.4% respectively.

"It is precious and timely to readjust the real estate industry at the current time." Huatai Securities said that in the past 22 years, a total of 835 relaxation policies have been introduced in various places. Since the first quarter of 2023, the pace of relevant policies has obviously slowed down. After the meeting of the Political Bureau, the policies of key cities are expected to be gradually optimized, such as the relaxation of policies such as restricting purchases, loans and sales, and recognizing housing and loans in core cities.

Yan Yuejin, research director of Yiju Research Institute, believes that the surge in real estate stocks on the 25th fully demonstrates the market’s absorption of the spirit of the Politburo meeting, and also reflects the positive adjustment expected by the market. Some enterprises with debt problems or operating pressures also showed relatively high stock performance, indicating that the impact of the Politburo meeting was comprehensive and universal, and the expectation of continued loose policies in the real estate sector was significantly enhanced, and macroeconomic and real estate expectations continued to improve in the second half of the year.

It is worth noting that the Politburo meeting also mentioned the transformation of villages in cities, which is considered to be an "important part" of the new real estate model.

The industry believes that the transformation of villages in cities is an inevitable choice to repair domestic demand and consumption potential, which will help to build a new model of renting before buying, gradually let new citizens upgrade their housing consumption, and create conditions for the sustainable development of the commercial housing market. The policy not only drives some construction opportunities, but also gives birth to a large number of business opportunities for operational services, which is beneficial to enterprises with comprehensive asset operation capabilities.

Huatai Securities said that it is necessary to pay attention to the detailed rules of each city in the future. Local state-owned assets with resource advantages will give priority to this policy, and they are optimistic about cities with abundant supply flexibility and high-quality housing enterprises with sufficient value and replenishment ability in mainstream cities.

Editor-in-Chief: Qin Hong

Text Editor: Yang Rong

Author: CBN

Source of the title map: upper view of the title map

Photo editor: Yong Kai

　　Economic Daily-China Economic Net, Beijing, July 13 (Reporter Ma Changyan) In the first half of this year, the national real estate regulation and control policies have exceeded 300 times. How will the real estate regulation and control go in the second half of this year? Will the real estate regulation be relaxed in order to further stimulate economic recovery in the future? On July 9, China Renmin University China Macroeconomic Forum released a special report, pointing out that with the epidemic basically under control, all walks of life have resumed production and work in an all-round way, the real estate market is recovering rapidly, and the super-differentiation pattern has been further strengthened. Under the super-differentiated market structure, structural risks are more prominent, and the determination of regulation and control and the requirements for accuracy are further improved. In the future, China’s real estate market industry will show the characteristics of "super-differentiation of the market and firm regulation of policies" for a long time.

　　The market is recovering well.

　　Qin Hong, a senior researcher at the National Development and Strategy Institute of Renmin University of China, a major member of the China Macroeconomic Forum (CMF) and former director of the Policy Research Center of the Ministry of Housing and Urban-Rural Development, released a special report on CMF China’s macroeconomics on behalf of the forum. Qin Hong pointed out that China’s real estate market is recovering rapidly after the epidemic, and the performance of relevant indicators is relatively good.

　　The cumulative year-on-year decline in the transaction scale of new houses continued to narrow, and prices rose steadily. In terms of transaction volume, from January to April, the national real estate sales area decreased by 19% and the sales volume decreased by 13%, but the decline in sales area narrowed by 7 percentage points compared with that in January-March. The transaction scale of urban commercial housing continued to improve, and the transaction scale of some cities in May has achieved positive growth year-on-year. In terms of price, according to the 100-city price index of the Central Finger Research Institute, the price of new residential buildings in 100 cities increased by 0.31% in May, and increased by 0.74% from January to May, which was 0.34 percentage points lower than the same period of last year. The cumulative increase was still the lowest in the same period of the past five years, and the price showed the characteristics of steady and rising.

　　The land market is shrinking in volume and rising in price, and continues to heat up. From January to May, the supply and demand scale of residential land in 300 cities nationwide decreased year-on-year. Among them, the supply and demand of residential land in first-tier cities have increased significantly, and the transaction scale of second-tier and third-and fourth-tier cities has declined. The heat of the land market has obviously increased, and the average floor price and premium rate have reached a stage high. From January to May, the average floor price of homestead transactions increased by 20.9% year-on-year.

　　The growth rate of real estate development investment is better than that of fixed assets investment and infrastructure investment. According to the data released by the National Bureau of Statistics, the national fixed asset investment (excluding farmers) decreased by 10.3% from January to April, of which infrastructure investment decreased by 11.8%, manufacturing investment decreased by 18.8% and real estate development investment decreased by 3.3%. Overall, the resilience of the real estate investment side still exists.

　　Show a pattern of super differentiation

　　"After the epidemic, differentiation is not enough to describe the changes in the real estate market, and there has been a pattern of super differentiation in the real estate market." Qin Hong said.

　　The report shows that after more than 20 years of development after the reform of the urban housing system, the sales scale of the real estate market has increased from 100 million square meters in 1998 to 1.7 billion square meters in 2019, an increase of 16 times. At the same time of the total growth, the real estate market has been divided, and the market share of enterprises, financing costs, land reserve pattern, corporate profitability and real estate markets in different cities have all been divided. Under the epidemic, this differentiation is further intensified.

　　In terms of real estate enterprises, the intensification of differentiation appeared in 2015. From 2016 to 2019, the proportion of sales of the top 100 enterprises increased by 24.8% in four years, which is increasing at an average annual rate of 6%. Under the influence of the epidemic, the sales area and sales volume of the national real estate market were still negative in the first half of the year, but the threshold value of the top three real estate enterprises increased by 8.85 points, and that of the top ten real estate enterprises increased by 5.2 percentage points.

　　From the perspective of enterprise financing scale, the financing scale of overseas debt and credit debt of the top 30 real estate development enterprises accounted for 64% of the top 100 enterprises in the first half of this year; From the perspective of financing cost, taking the cost of credit bonds issued by real estate enterprises in April as an example, the financing cost of enterprises with the lowest cost and enterprises with the highest cost is five times worse; Judging from the land market, the number of land acquired by the top 30 real estate enterprises in the first half of this year accounted for 85% of the top 50 enterprises. The larger the enterprise scale, the lower the floor land price; The smaller the enterprise scale, the higher the floor land price. There is also a very obvious gap in the cost of land acquisition for enterprises.

　　There are also obvious differences in the performance of real estate market in different cities. From the perspective of cities, the land acquisition of the top 100 real estate enterprises in the first half of this year was mainly concentrated in five urban agglomerations, accounting for 60% of the land acquisition scale, of which one urban agglomeration in the Yangtze River Delta accounted for 30% of the land acquisition scale of the top 100 enterprises. Judging from housing prices, more than half of the top 20 cities in the first half of this year are concentrated in the Yangtze River Delta region. Not only between cities, but also within cities. In addition, there is super differentiation between residential real estate and commercial real estate, real estate demand in different lots and inventory of different housing enterprises.

　　Firmly control the policy direction.

　　In order to promote the stable and healthy development of the real estate market, since the beginning of this year, the central government has repeatedly set the tone for the real estate policy. In April, the the Political Bureau of the Communist Party of China (CPC) Central Committee meeting mentioned that "houses should be used for living, not for speculation, so as to promote the stable and healthy development of the real estate market". In May, the government work report emphasized that "the house should be used for living, not for speculation, so as to promote the stable and healthy development of the real estate market."

　　According to the statistics of the Central Plains Real Estate Research Center, the number of policies issued nationwide to stabilize the property market in the first half of this year was 304, up 21% year-on-year, setting a new historical record for the number of regulation in half a year. From January to April this year, the number of real estate regulation and control reached 238. With the stability of the real estate market, the number of real estate regulation and control decreased significantly, 35 times in May and 31 times in June.

　　The report pointed out that maintaining the stability of housing prices is crucial to China’s economic and social stability and financial security. In the medium and long term, China’s current housing prices are at a high level, and the fundamental contradiction in the real estate market has not been substantially resolved. The super differentiation of the real estate market makes it more difficult for real estate to regulate and deal with risks.

　　In this context, the report believes that the real estate market still needs to be firmly regulated in the future, and it is necessary to maintain "five invariants" in the direction of policy. First, the strategic positioning of "housing and not speculating" remains unchanged. The key to the policy is the word "speculation" to prevent the rebound of real estate speculation. Second, the supply system of "renting and selling at the same time" remains unchanged. The key to the policy is the word "rent" to develop the housing rental market. Third, the regulation mechanism of "policy by city" remains unchanged. The key to the policy is the word "city", and the city government takes overall responsibility for the stability of the local real estate market. The fourth is to achieve the goal of "three stabilities". The key to the policy is "stability" to prevent the market from ups and downs. Fifth, the real estate financial policy remained stable. The real estate market has always been highly sensitive to monetary policy, and the key to the policy is to stabilize the mortgage interest rate.

　　In view of the development status of China’s real estate market, Qin Hong put forward five suggestions on behalf of the forum research group: First, we should still take the goal of stabilizing housing prices, take measures according to the city, and grasp the pace of real estate development. The second is to coordinate the development and regulation of real estate with the metropolitan area as the scope. The third is to guide the transformation and upgrading of the real estate industry with urban renewal as the starting point. The fourth is to control risks as the bottom line and reserve policies and measures for various camera decisions. Fifth, systematic market monitoring is carried out with indicators such as quantity, price and finance as the core.

　　Li Linping (a pseudonym), a prisoner, never imagined that he had the opportunity to leave prison to visit relatives during the Spring Festival this year. Having a reunion dinner, seeing off my elderly father-in-law and looking after my seriously ill father … Li Linping said that the experience of visiting relatives made him very excited. "I just want to make a good transformation, get out of prison as soon as possible and live a good life again." It is understood that this year’s Spring Festival, 42 prisons in the province organized a total of 274 prisoners to leave prison to visit relatives. Recently, all prisoners who left prison to visit relatives returned to prison on time.

　　Leave prison: to leave prison freely.

　　Li Linping, who is over 40 years old, is visiting relatives for the second time. Compared with the previous experience of visiting relatives, he felt very deeply that he was sentenced to 15 years’ imprisonment for corruption and abuse of power: "This time it is a reward, which is different from visiting relatives outside the prison. There is no full monitoring, and his psychology is very relaxed, and at the same time he has a sense of responsibility."

　　In 2004, Li Linping’s mother-in-law died of illness, and he was granted a special leave from prison to visit relatives. From 3 pm to 6 pm that day, Li Linping, led by two policemen, returned to his hometown Qingbaijiang. After knocking on the head several times in front of her mother-in-law’s spirit and hastily comforting her wife and family, Li Linping reluctantly embarked on the way back to prison.

　　At the beginning of February this year, Li Linping was pleasantly informed by Jintang Prison that he was on the list of people who left prison to visit relatives during the Spring Festival! It turned out that because of his good performance after he was imprisoned, Li Linping was given the opportunity to leave prison to visit relatives. At 9: 00 a.m. on February 5, Li Linping dressed up completely and excitedly appeared in front of his wife, sister, brother and other relatives. Accompanied by them, he confidently stepped up and walked out of the prison gate for the first time.

　　Home: My father-in-law finally waited for him.

　　In the morning, Li Linping went to his father-in-law’s house first. The 82-year-old father-in-law was seriously ill in bed. Li Linping came to the old man’s bed and took his hand tightly: "Dad, I came back to see you. Who am I?" After several calls, the old man raised his hand excitedly and said in a trembling voice, "Are you a son-in-law …" "He has been waiting for me, and now he finally sees me." Li Linping said that at noon the next day, the old man finished his life peacefully.

　　Youth League Year: For the first time in many years

　　At noon on the first day of returning home, a large family had a reunion dinner at their wife’s home. The family kept raising their glasses to bless the New Year and Li Linping. "For so many years, I went home for a reunion dinner for the first time. I am so happy to see a family in harmony. " Li Linping enjoyed this meal so much that he drank a little wine happily, even though he didn’t drink much at ordinary times.

　　Filial piety: taking care of father before bed

　　Li Linping, accompanied by his family, rushed to the General Hospital of Chengdu Military Region to visit his 84-year-old father almost every day. Because of his careless fall, his father wearing a ventilator could not speak. "Dad, I’m coming to see you. If you know, blink your eyes." Father moved and really blinked a few times slowly.

　　"I finally saw the old man for the last time, but I also regretted that I could not be filial." Li Linping said that just after he returned to prison for half a month, his father quietly stopped breathing. He is very grateful to the prison for giving him the opportunity to leave prison to visit relatives, so that he can see the two old people for the last time.

　　Significance: Carrying out humanized management.

　　Yesterday, the reporter learned from the Provincial Prison Administration that all prisoners who left prison to visit relatives had returned to prison within the specified time, and there was no incident of supervision safety accident and criminals who left prison to visit relatives disturbing social order. Among them, Liu, a criminal in Chengdu Juvenile Delinquency Center, took the initiative to participate in local rescue and relief activities during his visit from prison, and the local town government sent a special letter of commendation.

　　"Under the premise of strict standards,’ sunshine’ approval and ensuring safety, visiting relatives outside prison is an important means to improve the quality of criminal reform, which is the embodiment of the criminal policy of’ tempering justice with mercy’ and also conforms to the current advanced execution concept." Li Xinmin, Party Secretary of the Provincial Prison Administration, said.

　　Liu Zhicheng, director of the Provincial Prison Administration, said: "Visiting relatives after leaving prison is an important measure to implement humanized management in prisons and an important embodiment of the prison policy of’ reforming people’. We will strengthen the summary, strive to improve and constantly advance." (Reporter Yang Qin)

Editor: Jufu

Recently, according to the tax payment certificates provided by Wuyishan Municipal Government and Anxi County Government of Fujian Province, in 2023, Bama Tea Industry became the first tax payer of tea enterprises in the two places respectively. This means that Bama Tea has won the first place in the tax payment of tea enterprises from Tieguanyin, Anxi for 11 consecutive years, and the second place in the tax payment of Wuyi Rock Tea and Tieguanyin, two oolong tea enterprises from Anxi for 4 consecutive years.

△ Bama Tea won the first place in the tax payment of Wuyi Rock Tea and Anxi Tieguanyin origin tea enterprises for four consecutive years.

Wang Wenli, chairman of Bama Tea Industry, once said that using "double taxation crown" as a signboard is actually using integrity as a signboard. From the perspective of double taxation, it is not difficult to see that Bama Tea insists on feeding back the origin with honest management and promoting the long-term healthy development of China tea industry.

The mission of China tea benchmarking enterprise with double first tax payment for four consecutive years.

In 2023, "Opinions of the Central Committee of the Communist Party of China and the State Council on Promoting the Development and Growth of Private Economy" was issued, which mentioned that it is necessary to guide private enterprises to continuously improve the quality of development and promote the private economy to become bigger, better and stronger.

As a leader of private enterprises, Bama Tea Industry pays taxes according to law, which is one of the manifestations of its practice of honest management and its active commitment to the feelings of home and country and social responsibility of head tea enterprises.

Walking into more than 3,200 stores in Bama tea industry all over the country, you can see the golden sign of "double taxation first". Taking honesty and paying taxes as the letter in business is a concrete action for enterprises to serve the country, which just embodies the "positive" values of Bama tea industry. On the road of industrial revitalization, paying taxes will feed back the origin, continuously inject vitality and upgrading into the tea industry, and empower China tea to develop with high quality.

On the other hand, it has been able to achieve the double first place in tax payment for the two major oolong tea enterprises for four consecutive years, which also reflects the high industry recognition and core market position of Bama tea industry.

Empowering rural revitalization with "enterprise", building a new development path based on good tea of origin

The Bama tea industry, which has always been deeply involved in the development of the producing areas, actively responded to the national major policies, just conforming to the wave of the times. In fact, on the road of implementing the overall development of "three teas", Bama tea industry’s efforts go far beyond paying taxes in good faith according to law, and more importantly, it explores multi-dimensional solutions for the tea industry to empower rural revitalization through initiatives such as opening competitions, building industrial parks, building platforms, and opening channels.

△ In 2023, Bama Tea Industry Wuyi Rock Tea Wang Sai received more than 6,000 samples, far ahead of similar local events.

Up to now, Bama Tea Industry has been deeply involved in the "Double Crown and Double Tea Wang Sai" for four consecutive years, and has invested over 30 million yuan to hold the Tea King Competition, rewarding tea farmers and tea enterprises to make good tea. It has become a phenomenal event that leads tea farmers to improve their tea-making skills and the trend of tea consumption market.

Relying on the competition to empower the tea producing areas, Bama tea industry further sank its origin, and opened factories in Anxi and Wuyishan, two core oolong tea producing areas, to explore the upgrading path of modern smart tea gardens. Among them, Bama Wuyishan Intelligent Ecological Industrial Park, which was just put into operation not long ago, is a large-scale tea industry complex integrating Wuyi tea production and processing, experience sightseeing, scientific research and training, which not only promotes the high-quality development of local tea industry, but also provides a strong boost for rural revitalization in Wuyishan area.

△ Seventh Generation Intelligent Production Line of Bama Wuyishan Intelligent Ecological Industrial Park

As a representative of the national tea brand, Bama Tea Industry has also practiced the concept of "helping farmers with tea" nationwide, built a direct bridge between tea farmers in producing areas and market consumers, and built a value-creating open platform for the participation of tea farmers and tea enterprises. Continue to "hematopoietic" for tea-producing areas and continue to contribute "eight horses" to rural revitalization.

High-quality exploration of developing national tea brands by resonance in the same frequency era

With the prosperity of tea in the country, along with the trend of industrial extension driven by the spirit of "the belt and road initiative", the layout of China tea has already extended to the whole world. The Bama tea industry, which actively conforms to the general trend of the times and develops resonantly, is at the forefront of the layout of tea in China.

Since the beginning of 2023, on the one hand, Bama Tea has appeared in international events at home and abroad several times, actively practicing the spirit of building a "the belt and road initiative" and helping great countries to have tea talks; On the other hand, he was invited to appear at the United Nations Headquarters, the China Embassy in the United States, and the headquarters of the Food and Agriculture Organization of the United Nations, and held the global tasting of high-end China tea in South Africa, the Republic of San Marino, Italy, Switzerland and other countries. At the same time, Bama Tea Industry has built an Italian-Italian tea wine culture promotion center, entered the North American market strongly … and expanded the market breadth of China tea in multiple dimensions. Pass the power of China tea brand to the world again and again, and set off the China tea craze sweeping the world.

△ During the International Tea Day in 2023, Bama Tea was invited to represent China Tea at FAO, and Bama Tea was praised by guests from many countries.

In the new stage of "the belt and road initiative" entering high-quality co-construction, from China tea to world tea, Bama tea industry has been constantly exploring the development of tea brands, practicing the path of breaking the national tea brand upgrade and construction. Its implementation of honest management and tax payment, its cultivation of the development of energy-producing areas, and its strategy of promoting China tea to go abroad have all merged into an excellent example of the high-quality development of tea brands in China today.

Christmas symbolizes love and sacred faith. Christmas is a day of celebration and jubilation abroad. For people in Europe and America, Christmas is like the Spring Festival in China. They have Christmas holidays, give Christmas gifts and participate in various Christmas activities.

The real meaning of Christmas is to commemorate the birth of Jesus. Christmas Eve on December 24th and Christmas Day on December 25th are all related to the legend of the birth of Jesus.

At the beginning of the 4th century, January 6th was a double festival for churches in the eastern Roman Empire to commemorate the birth and baptism of Jesus, that is, God revealed himself to the world through Jesus.

This day is also the winter solstice festival of the Roman calendar, which means the beginning of the recovery of everything. Perhaps for this reason, the Roman church chose this day as Christmas.

Christmas is the biggest festival in the Christian world. It is generally believed that December 25th, as Christmas, may have started in the Roman Church in 336 AD.

Because the calendars used by local churches are different, the specific dates cannot be unified, so December 24 to January 6 of the following year is designated as the Christmas Festival, and local churches can celebrate Christmas during this festival according to local conditions.

In many countries in Europe and America, people attach great importance to this festival and associate it with the New Year. The excitement and solemnity of the celebration greatly surpassed the New Year and became a national holiday.

The symbol of Christmas tree

It is said that the Christmas tree first appeared in the Saturnalia in mid-December in ancient Rome, and the German missionary Nicholas used vertical trees to worship the infant in the 8th century. Subsequently, the Germans took December 24 as the festival of Adam and Eve, and put a "paradise tree" symbolizing the Garden of Eden at home, and hung cookies representing the sacred bread to symbolize atonement; And lit candles to symbolize Christ. In the 16th century, Martin Luther, a religious reformer, designed a Christmas tree with candles in it for a starry Christmas night.

However, there is another popular saying about the origin of the Christmas tree in the west: A kind farmer warmly entertained a wandering child on Christmas Day. When leaving, the child broke off a branch and planted it on the ground and immediately grew into a big tree. The child pointed to the tree and told the farmer that every year today, the tree is full of gifts to repay your kindness. Therefore, the Christmas tree people see today is always full of small gifts. Designed by Horsley. The card depicts a noble family, and three generations raise their glasses together to congratulate an absent relative. At that time, he printed 1000 copies, and the unused printing house sold them at a price of 1 shilling each. So the Christmas card was born.

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