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Daily real estate industry updates summary (2024-11-21)
Christopher Hui, the Secretary for Financial Services and the Treasury of Hong Kong, proposed the second reading of the Stamp Duty (Amendment) Bill 2024 at the Legislative Council meeting. He suggested exempting stamp duty on the purchase and sale of real estate investment trusts to enhance the competitiveness of Hong Kong's property trust funds and support further market development.
Express News | Shanghai shimao construction and others were enforced to pay 0.59 billion.
Mainland real estate stocks all fell, radiance hldgs (09993) dropped by 11.05%. Fitch Bo Wah expects significant pressure on short-term housing price adjustments.
Kingdox Financial News | Mainland real estate stocks fell across the board, Radiance Hldgs (09993) down 11.05%, Sunac (01918) down 8.43%, R&F Properties (02777) down 7.85%, Shimao Group (00813) down 5.08%, Sino-Ocean Gp (03377) down 4.62%, Cifi Hold Gp (00884) down 4.55%. On the news front, Fitch Bowa stated in the report that the outlook for China's real estate development industry in 2025 is "low prosperity stability", expecting the continued downward trend in short-term second-hand house prices, with significant pressure on new house price adjustments, believing that
Hong Kong stocks unusual movement | Mainland real estate stocks collectively decline, sunac (01918) falls more than 8%, ronshinechina (03301) falls more than 7%.
Mainland real estate stocks collectively declined. As of the time of writing, sunac (01918) is down 8.05%, priced at 2.4 Hong Kong dollars; ronshinechina (03301) is down 7.53%, priced at 0.43 Hong Kong dollars; zhongliang hldg (02772) is down 6.2%, priced at 0.121 Hong Kong dollars.
The "white list" credit issuance for Sichuan real estate is nearly 200 billion yuan, with loans exceeding 160 billion yuan.
The Sichuan Financial Regulatory Bureau revealed during a press conference that as of November 17, 322 real estate projects have been added to the 'white list', with a total credit approval of nearly 200 billion yuan and loans exceeding 160 billion yuan through the 'white list', with over 50% being private enterprises, benefiting more than 600,000 households of homebuyers. (ta/k)~
The unchanged LPR in November meets market expectations. Industry insiders do not rule out the possibility of further interest rate cuts next year along with the reverse repurchase rate.
① By the end of the year, the economic running is expected to continue its upward trend, with policy interest rates likely to remain stable and LPR quote also expected to stay unchanged. ② There is a high possibility of further reductions in deposit rates in the future, coupled with the issuance of special treasury bonds to support large state-owned commercial banks in replenishing their core tier one capital, which is expected to gradually alleviate the interest spread and operational pressure for commercial banks. It is possible that next year the LPR quote may be accompanied by further interest rate cuts on reverse repurchase agreements.
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