[today's property market] the bubble momentum of real estate finance has been curbed * Luoyang launched the first-level early warning of the liquidity risk of housing provident fund.

[Luoyang starts the first-level early warning of liquidity risk of housing provident fund from next month] the Luoyang Housing accumulation Fund Management Center issued the notice on starting the first-level early warning prevention and control measures for the liquidity risk of housing provident fund. According to the notice, as of the end of February 2021, the individual loan rate of housing provident fund in Luoyang was 98.17%. In order to effectively prevent and resolve the liquidity risk of housing provident fund, the first-level early warning prevention and control measures of liquidity risk will be launched from March 6, 2021.

Guo Shuqing, party secretary of the people's Bank of China and chairman of the China Banking and Insurance Regulatory Commission, said on the 2nd that the bubble momentum of real estate finance has been curbed. In 2020, the growth rate of real estate loans was lower than that of other loans for the first time in eight years.

[land acquisition increased by 9.2% compared with the same period last year, and there is a significant differentiation among enterprises.] from January to February of 2021, TOP100 enterprises took a total of 386.6 billion yuan of land, an increase of 9.2% over the same period last year. The threshold of TOP100 is 1 billion yuan, which is consistent with that of the same period last year. The total amount of land sold by TOP100 enterprises accounts for 60.3% of the land transfer fees of 300 cities across the country. In terms of the value of new goods, Pudong Development Group, Sunac China and Poly Development occupy the top three on the list. From January to February of 2021, Pudong Development Group ranked first with a cumulative new goods value of 65.7 billion yuan, followed by Fuchuang China and Poly Development, with cumulative new goods value of 57.1 billion yuan and 56.4 billion yuan respectively. The total value of new goods added by TOP10 enterprises from January to February is 407.3 billion yuan, accounting for 32.9% of TOP100 enterprises, and the threshold for new goods value is 24.4 billion yuan.

[month-on-month increase narrowed in February] according to the survey data of new and second-hand housing in 100 cities across the country by the China Real Estate Index system, the average price of newly built housing in 100 cities was 15884 yuan per square meter in February 2021. The month-on-month increase was 0.20%, 0.17% lower than the previous month, 4.01% year-on-year and 0.45% higher than the previous month. The average price of second-hand housing in Baicheng was 15585 yuan per square meter, up 0.28% from the previous month, 0.04% lower than the previous month, 3.30% higher than the same period last year, and 0.08% higher than the previous month. The overall turnover of the property market declined in February, with a marked decline in third-tier cities. In terms of cities, there was a significant decline of 64.2% in third-tier cities, 31.22% in second-tier cities, and 29.33% in first-tier cities.

Huatai Securities believes that the sales profit margin of the real estate industry has bottomed out and is expected to improve marginally in 21 years, and the pace of industry reserve expansion is steady. With the increase of land concentration of high-quality head enterprises, the market will shift from the pursuit of explosion in the past to housing enterprises with the ability of sustained and healthy development. Key recommendations: leading housing enterprises with healthy financial statements that are expected to benefit from financing advantages in the future and have forward-looking layouts in diversified fields; housing enterprises that are highly leveraged at present but are expected to improve in the future, and have advantages in land reserves or turnover capacity; real estate enterprises that conform to the trend of stock asset revaluation.