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<Research>HSBC Research Favors CHINA RES LAND/ C&D INTL GROUP/ SEAZEN; Fujian Launches Policies to Stimulate Property Sales
Recommend 8 Positive 10 Negative 1 |
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Since the Qiushi article in January set the tone for real estate policies, the market has been anticipating more decisive measures, HSBC Research wrote in its report. Fujian Province announced on February 3 a policy package to support the real estate market, covering supply control, housing consumption, old-for-new replacement plans, and urban renewal, measures HSBC Research believes are aiming to maximize the boost to the upcoming spring peak sales recovery. HSBC Research considers C&D INTL GROUP (01908.HK) a clear beneficiary, as 25% of its land reserves by value are located in Fujian. Its regional state-owned enterprise background also benefits it in government-led idle land acquisitions. With the issuance of consumption vouchers during the nine-day Spring Festival in China to stimulate consumption, HSBC Research also expects interest in commercial real estate stocks, namely CHINA RES LAND (01109.HK) (Tier 1) and SEAZEN (01030.HK) (Tier 2 and 3), will be reignited. Based on this background, HSBC Research continues to favor CHINA RES LAND, C&D INTL GROUP, and SEAZEN, all rated as Buy. They will offer more attractive risk-reward in a stabilizing market environment. The specific ratings and target prices of Chinese property stocks are available in a separate table. AAStocks Financial News |
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