The big worry here to me is, without a solid recovery in confidence by locals about the prospects of the economy, they will continue to save instead of invest at home. Yes, Chinese could start increasing investments overseas. Manufacturers are already pouring billions to de-risk their China-centric operations. But this will be restrained by intense scrutiny in the West. Beijing needs to get serious about helping the consumer and its property market ge...
1⃣ China's Jan-Sept realestate development investment fell by 10.1% y/y to 7.87 trillion yuan. 2⃣Residential housing sales areas decline narrowed to -17.1% y/y at 703 million square meters, and the total sales down by 22.7% y/y to 6.89 trillion yuan. (narrowed) 3⃣Developing funds in place down 20.0% y/y(narrowed) to 7.89 trillion yuan. 4️⃣Sentiment 92.41 $LONGFOR GROUP (00960.HK)$$CG SERVICES (06098.HK)$$AGILE GROUP (03383.HK)$$EVERGRANDE (03333.HK)$
I’d be worried if the rate of decline does not significantly lessen in October given the reports of a more active buyer market since the National Day holiday. ALL CHINA SEPT NEW HOME PRICES -0.7% M/M (AUG -0.7%), -5.8% Y/Y (AUG -5.3%). STABILIZED M/M, WITH Y/Y DECLINES WIDENING. HOME PRICES FELL M/M IN 66 OF 70 CITIES VS. 67 IN AUG, FELL Y/Y IN 68 CITIES, VS 68 IN AUG. $CG SERVICES (06098.HK)$$LONGFOR GROUP (00960.HK)$$EVERGRANDE (03333.HK)$$AGILE GROUP (03383.HK)$
1) Renovation of 1 million urban villages and dilapidated buildings: Focused on supporting cities at the prefecture level and above. Development and policy-oriented financial institutions will provide special loans. Local governments will be allowed to issue special bonds. Tax and fee incentives will be offered. Commercial banks will issue loans based on evaluations. 2) Increase in credit for "white-listed" projects to 4 trillion yuan by year-en...
Money Thrill
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That's something, but probably not enough to support the stock market ... that's i want to see more. Cut taxes, for example? It's all for "house market" ?
That’s a bit of a let-down for investors who expected officials to unveil the value of additional special sovereign bonds at the presser. On steps to help big state banks to replenish their capital, Vice Finance Minister Liao Min said the ministry is waiting for the lenders to submit their specific plans, and that work is progressing. Banks that are listed ...
🔥Local debt risks under control = paves the way for government to increase its balance sheet significantly to help the economy. 🔥RMB 2.3 TRILLION of special bonds made available for the rest of the year. That's just in 4Q. 🔥Will issue treasury bonds to beef up major banks' T1 capital. 🔥Sizeable one-time quota for hidden debt swap. Likely targeting property market and local government financing units. 🔥Special bonds to buy up unsold homes and unused land. (A carry ...
2⃣Residential housing sales areas decline narrowed to -17.1% y/y at 703 million square meters, and the total sales down by 22.7% y/y to 6.89 trillion yuan. (narrowed)
3⃣Developing funds in place down 20.0% y/y(narrowed) to 7.89 trillion yuan.
4️⃣Sentiment 92.41
$LONGFOR GROUP (00960.HK)$ $CG SERVICES (06098.HK)$ $AGILE GROUP (03383.HK)$ $EVERGRANDE (03333.HK)$
ALL CHINA SEPT NEW HOME PRICES -0.7% M/M (AUG -0.7%), -5.8% Y/Y (AUG -5.3%). STABILIZED M/M, WITH Y/Y DECLINES WIDENING.
HOME PRICES FELL M/M IN 66 OF 70 CITIES VS. 67 IN AUG, FELL Y/Y IN 68 CITIES, VS 68 IN AUG.
$CG SERVICES (06098.HK)$ $LONGFOR GROUP (00960.HK)$ $EVERGRANDE (03333.HK)$ $AGILE GROUP (03383.HK)$
2) Increase in credit for "white-listed" projects to 4 trillion yuan by year-en...
$NASDAQ Golden Dragon China (.HXC.US)$ $LONGFOR GROUP (00960.HK)$ $EVERGRANDE (03333.HK)$ $CG SERVICES (06098.HK)$
On steps to help big state banks to replenish their capital, Vice Finance Minister Liao Min said the ministry is waiting for the lenders to submit their specific plans, and that work is progressing. Banks that are listed ...
Would be nice to get a figure for their plan to purchase unsold homes.
But overall very positive. They seem to have their eye on the ball and determined to bring it over the line for a touchdown.
$EVERG VEHICLE (00708.HK)$ $CG SERVICES (06098.HK)$ $NASDAQ Golden Dragon China (.HXC.US)$ $Global X MSCI China Consumer Discretionary ETF (CHIQ.US)$ $Hang Seng Index (800000.HK)$
🔥RMB 2.3 TRILLION of special bonds made available for the rest of the year. That's just in 4Q.
🔥Will issue treasury bonds to beef up major banks' T1 capital.
🔥Sizeable one-time quota for hidden debt swap. Likely targeting property market and local government financing units.
🔥Special bonds to buy up unsold homes and unused land. (A carry ...
$Hang Seng Index (800000.HK)$ $COUNTRY GARDEN (02007.HK)$ $LONGFOR GROUP HLDG (LGFRY.US)$ $EVERGRANDE (03333.HK)$ $iShares MSCI China ETF (MCHI.US)$
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