Chinese property stocks continued to be sought after by funds today, with more than a dozen stocks rising by more than double digits. As of press time,Ronshine China(03301) rose 54.88% to HK$1.27;Logan Group(03380) rose 36.29% to HK$16.29;KWG Group(01813) rose 36.55% to HK$2.69;Powerlong Real Estate(01238) rose 21.84% to HK$2.12;Longfor Group(00960) rose 14.26% to HK$28.45;CIFI Holdings Group(00884) rose 13.19% to HK$1.63.
On the news, the Politburo meeting of the Central Committee on December 6 did not continue to propose real estate-related policies. Overlaying the recent heavy policy dividends on the real estate financing side, the market expects that real estate may have further policy actions. Some market participants said that the upcoming Central Economic Work Conference on real estate policy is still worth looking forward to.
It is reported that on December 2, there was market news that the Chinese regulatory agency requiredBank of China,ChinaConstruction Bank,ChinaICBCand ChinaABCThe four major banks will provide offshore loans backed by domestic assets to real estate companies before December 10. Several media outlets confirmed that the news was true. A person in charge of a private equity fund said that if the above news is confirmed, it means that overseas financing will restart, which will help real estate companies repay offshore debt.
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