China Likely to Roll Out More City-Level Property Measures in May, June -- Market Talk

Dow Jones05-02

0638 GMT - China will likely roll out more city-level property sector easing measures in May and June after several major cities like Chengdu scrapped their home-buying requirements, Citi analysts Griffin Chan and Cindy Li say in a research note. That's because of the more proactive tone at the April Politburo meeting, they say. Still, it would be hard for local governments to directly purchase inventory units before a broad pickup in demand, given the large amount of funding it requires and lack of demand for rental housing in non-core cities and districts, they say. Citi thinks risks for the sector are receding to tolerable levels and suggests a neutral position for the sector. Its top picks include China Resources Land and KE Holdings.(sherry.qin@wsj.com)

(END) Dow Jones Newswires

May 02, 2024 02:38 ET (06:38 GMT)

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