Equity Research in HK and Mainland China

Li Tang

Thematic (Sector/Industry)

Vice-Premier Liu He wrote an article in the people's Daily on China's 'dual circulation' strategy on Wednesday in which he noted that the real estate industry influences investment and consumption, and is connected to people's livelihoods and development. Liu's speech maintains existing top-level property policy, but at the same time relates property to investment and consumption, implying that property policy setting could be considered jointly with investment and consumption targets. This suggests a more pragmatic approach towards property policy weighting up risks against growth benefits.
Rumour spread in the market that regulator will tighten the trust funding quota approved due to a risk concern, fears were quick to emerge of a liquidity squeeze for some of China's indebted developer, causing its shares and bonds to tumble. However, in the last week we have seen several cities such as Harbin in last week issuing the policy to support property sales. Those can be seen as policy support for the sector.

Vice-Premier Liu He wrote an article in the people's Daily on China's 'dual circulation' strategy on Wednesday in which he noted that the real estate industry influences investment and consumption, and is connected to people's livelihoods and development. Liu's speech maintains existing top-level property policy, but at the same time relates property to investment and consumption, implying that property policy setting could be considered jointly with investment and consumption targets. This suggests a more pragmatic approach towards property policy weighting up risks against growth benefits.
Rumour spread in the market that regulator will tighten the trust funding quota approved due to a risk concern, fears were quick to emerge of a liquidity squeeze for some of China's indebted developer, causing its shares and bonds to tumble. However, in the last week we have seen several cities such as Harbin in last week issuing the policy to support property sales. Those can be seen as policy support for the sector.

China's Real Estate Sector to Be Tightened

Founder-CEO & Chief Analyst, Real Estate Foresight

Robert Ciemniak

Founder-CEO & Chief Analyst

Real Estate Foresight

Since 2012, REF has been helping investors with market research, project due diligence, and strategy development. This has ranged from detailed assessments and estimates on distressed developers' project portfolios to market due diligence on specific projects to macro-level questions linked to demand for commodities. The unique combination of the housing markets and developer data from data partner China Index Academy in Beijing, primary research, and technology-powered alternative data collection from public sources result in a valuable content set used in REF analytics and reports.

Predictive Analytics for China Property

On April 1, 2017, the Chinese government announced it would set up the Xiong'an New Area in Hebei Province. We are taking a slightly closer look at what / where it is in the context of the property markets in the nearby cities.

On April 1, 2017, the Chinese government announced it would set up the Xiong'an New Area in Hebei Province. We are taking a slightly closer look at what / where it is in the context of the property markets in the nearby cities. 

Amareos

Ryan Shea

Summary: Housing has several characteristics that mean it is almost perfectly designed to be prone to bubble-like behaviour. By definition a bubble occurs when the price of an asset is significantly overvalued making it increasingly difficult to justify based on underlying fundamentals. In such situations it is the overriding optimism of the crowd, with unrealistically high expectations, that acts as the propellant for further gains. Ten years on from the bursting of the US housing market…

Summary: Housing has several characteristics that mean it is almost perfectly designed to be prone to bubble-like behaviour. By definition a bubble occurs when the price of an asset is significantly overvalued making it increasingly difficult to justify based on underlying fundamentals. In such situations it is the overriding optimism of the crowd, with unrealistically high expectations, that acts as the propellant for further gains. Ten years on from the bursting of the US housing market…

The Market Sentimentalist: Global Real Estate – Where Are The Risks Residing?

New data from China's National Bureau of Statistics (NBS) for February for 70 major cities and calculations of the aggregate show a further gradual deceleration in price growth overall on a year-on-year basis from +12.2% in January to +11.8% in February, though the month-on-month growth actually picked up from +0.2% to +0.3%.Top risers on a 12-month basis now show some of the more significant declines on the month-on-month basis, while there are more cities with house prices rising.The biggest…

New data from China's National Bureau of Statistics (NBS) for February for 70 major cities and calculations of the aggregate show a further gradual deceleration in price growth overall on a year-on-year basis from +12.2% in January to +11.8% in February, though the month-on-month growth actually picked up from +0.2% to +0.3%.Top risers on a 12-month basis now show some of the more significant declines on the month-on-month basis, while there are more cities with house prices rising.The biggest…

China Property: What's Going On With House Prices... Based On The Latest NBS Data

Three quick takeaways from the annual 2016 data on commercial property sales transactions - income producing assets in office, retail, industrial, apartment and hotel sectors, excluding the development sites. Select data/charts courtesy of our data partner <a href="http://www.rcanalytics.com" target="_blank">Real Capital Analytics</a>:1. GLOBAL DOLLAR VOLUMES DOWNFor the first time since 2009, the global volumes declined overall and across the major regions. Low interest rates had clearly given a boost to volumes over the past 7 years, with the rich…

Three quick takeaways from the annual 2016 data on commercial property sales transactions - income producing assets in office, retail, industrial, apartment and hotel sectors, excluding the development sites. Select data/charts courtesy of our data partner Real Capital Analytics:1. GLOBAL DOLLAR VOLUMES DOWNFor the first time since 2009, the global volumes declined overall and across the major regions. Low interest rates had clearly given a boost to volumes over the past 7 years, with the rich…

Global Capital Trends In Real Estate In 2016

China

China Fortune Land Development Company Limited conducts property development, infrastructure investment and management of industrial parks, as well as sales of building and furnishing materials.

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China Fortune Land (600340 CH)

China's Real Estate Sector to Be Tightened

Overall property policies lean towards tightening.The change will constrain highly leveraged developers mostly but providing opportunities for...

Li Tang

Xiong'an New Area - The New Shenzhen?

On April 1, 2017, the Chinese government announced it would set up the Xiong'an New Area in Hebei Province. We are taking a slightly closer look at...

Robert Ciemniak

The Market Sentimentalist: Global Real Estate – Where Are The Risks Residing?

Summary: Housing has several characteristics that mean it is almost perfectly designed to be prone to bubble-like behaviour. By definition a bubble...

Amareos

China Property: What's Going On With House Prices... Based On The Latest NBS Data

New data from China's National Bureau of Statistics (NBS) for February for 70 major cities and calculations of the aggregate show a further gradual...

Robert Ciemniak

Global Capital Trends In Real Estate In 2016

Three quick takeaways from the annual 2016 data on commercial property sales transactions - income producing assets in office, retail, industrial,...

Robert Ciemniak

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)