12 月16 日，工信部发布《水泥玻璃行业产能置换实施办法（修订稿）》（以下简称“12 月修订稿”），与10 月发布的修订稿相比，主要是对产能置换办法的适用范围做了修订，允许光伏压延玻璃和汽车玻璃可不制定产能置换方案，但新建项目应委托全国性的行业组织或中介机构召开听证会，并公告项目信息，且项目建成后企业履行承诺不生产建筑玻璃。我们认为该调整中长期有利于增加光伏压延玻璃供给、缓解行业供求紧张的局面，符合当前需求侧改革要义，但短期内供给缺口仍然存在，我们预计光伏玻璃价格有望高位维稳，继续重点推荐旗滨集团、亚玛顿。

11 月行业整体保持稳步上涨，建材行业及其龙头公司单月上涨3.45%、5.82%，跑赢沪深300 指数-2.19、0.18 个百分点，龙头企业表现相对更优，分板块来看，水泥、玻璃、其他建材单月分别上涨6.99%、0.42%和1.74%，分别跑赢沪深300 指数1.35/-5.22/-3.9 个百分点。年初至今建材板块上涨31.83%，跑赢沪深300 指数9.24 个百分点，处于全行业相对靠前水平。

2021 年经济重回“稳杠杆”，地产投资有韧性：今年国内率先遏制疫情，中国经济“一枝独秀”，在宽信用政策下，地产和基建投资快速修复。2020年8 月政府发布的“三条红线”政策限制了房企加杠杆的空间，房企将控制拿地额、加快开工、加大销售力度和加快竣工结转，2021 年地产投资仍具有韧性。2021 年经济将重回“稳杠杆”，基建投资继续温和回升。

This report covers the study of the global construction equipment rental market. Comprehensive analyses of the market trends, future estimations, and thorough study of the market on the basis of application, product, propulsion system and region are included in this report. Construction equipment rental market includes construction equipment of different types depending on their application, product, and propulsion system. Construction equipment are used to in construction and mining activities. Furthermore, the report highlights the regional trends and the regional coverage of this market across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa). It further provides insights on the drivers, restraints, and opportunities to understand the dynamics and potential of the construction equipment rental market.

Waterproofing in building constructions is the process of making a structure waterresistant or impervious to ingress of water. In areas where building structures have high exposure to rainfall and snowfall, waterproofing is mandatorily preferred to maintain the safety and quality of the building. Basements and foundation areas need to be waterproofed in buildings where the groundwater levels are high. In the APAC and North American regions, a majority of the construction sites are built-in high water table areas, which is likely to exert hydrostatic pressure on the basement and walls. This can force water through cracks, which can result in structural damage along with moisture-related problems like mold, mildew, and decay. A majority of building owners prefer waterproofing to maintain the quality and resale value of the buildings. Unhealthy living areas and weak foundations are significantly reducing the resale value of the building every year globally. Investors and buyers of properties in a majority of growing economies around the world have waterproofing as an essential consideration in building construction works. Waterproofing methods differ in the areas it is being applied like urban and rural applications.

A concrete pump is a machine used to transfer liquid concrete by means of pumping. The pump operates by one piston drawing liquid concrete into a cylinder from a hopper, while the other simultaneously pushes its concrete out into the discharge pipes. Concrete pump is important in revolutionizing the construction of highrise buildings and structures. The report on the global concrete pumps market presents a detailed analysis of the trends, future estimations, and thorough study of the market depending on type, industrial vertical, and region.

Construction & demolition waste recycling deals with construction, renovation, and demolition. The global construction & demolition waste recycling market is segmented on the basis of source, service, material, and region. On the basis of source, the market is divided into construction, renovation, and demolition. On the basis of services, it is classified into collection and disposal. On basis of material, it is segregated into inert, wood, plastic & glass, metal, and others. The market is analyzed across North America, Europe, Asia-Pacific, and LAMEA to understand their regional trends. This report highlights drivers, restraints, opportunities, and growth strategies adopted by key players to understand the dynamics and potential of the market. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.

2020 年 12 月 9 日，央行，11 月社会融资规模增量为 2.13 万亿元，比上年同 期多 1406 亿元，预期 1.98 万亿元，前值 1.42 万亿元。11 月末社会融资规模存量 为 283.25 万亿元，同比增长 13.6%。当月人民币贷款增加 1.43 万亿元，同比多增 456 亿元，预期 1.36 万亿元，前值 6898 亿元；M1 继续保持高位，增长 10%；M2 增长 10.7%，预期 10.6%，前值 10.5%。

公路板块受免费通行影响，Q1/Q2利润分别下滑-134.2%/-59.6%，板块指数下跌5.1%。铁路客运直接受损，京沪高铁前三季度利润下滑79.3%，货运受火电需求影响运量也有下滑，大秦铁路前三季度利润下滑26.4%，板块指数下跌17.4%。快递受益于网购渗透率的加速提升，前三季度快递单量同比高增27.9%，物流板块指数上涨23.3%。装配式建筑行业受益于政策驱动，板块估值提升，钢结构板块指数上涨71.6%。