Equity Research in HK and Mainland China

Li Tang

Highly experienced sell-side analyst with more than ten years of experience in the field of China’s in-depth policy-driven macro research in China (Beijing) .
Covering in equity research in HK and Mainland market mainly real estate, construction,steel sector.
The Ideas generation based on an analysis of China’s future direction and policy decisions fundamental analysis on sector impact, market drivers, timing and scale, combined with quantitative analysis.

Thematic (Sector/Industry)

China Real estate management and development / Thematic (Sector/Industry)

<p style="text-align: left;"> We believe that top policymakers have switched China policy priorities from short term growth stabilisation alone to balancing growth with financial risk control . As a result property sector is back to the pre-COVID-19-era as the government continues to clamp down on speculative demand to prevent overheating in the city property market with rapid home price growth. Credit data in July confirm the monetary policy shift towards neutral away from short-term growth stabilisation, with a greater focus on financial risk control.</p>
<ul type="disc">
<li>Improving domestic economy leads to shifting property policy tone</li>
</ul>
<ul type="disc">
<li>National Bureau of Statistics of China (NBS) data shows home prices growth slow in July</li>
<li>Credit data in July confirms policy shift towards neutral</li>
</ul>

 We believe that top policymakers have switched China policy priorities from short term growth stabilisation alone to balancing growth with financial risk control . As a result property sector is back to the pre-COVID-19-era as the government continues to clamp down on speculative demand to prevent overheating in the city property market with rapid home price growth. Credit data in July confirm the monetary policy shift towards neutral away from short-term growth stabilisation, with a greater focus on financial risk control.

Improving domestic economy leads to shifting property policy tone


National Bureau of Statistics of China (NBS) data shows home prices growth slow in July
Credit data in July confirms policy shift towards neutral


Poly Real Estate Group Co., Ltd (600048 CH)

China Merchants Shekou Industr (001979 CH)

China New Home-Price Growth Slows in July