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<Research>HSBC Research: CHINA VANKE Receives Support Far Beyond Expectations, Indicating Shift in Policy Toward More Aggressive Intervention
Recommend 4 Positive 9 Negative 7 |
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According to foreign media reports, the Chinese government is considering allocating RMB20 billion in special local government bonds to purchase CHINA VANKE (02202.HK)'s unsold inventory and support its refinancing, HSBC Global Research released a report saying. HSBC Global Research believed that this move was a surprise to the market and exceeded the broker's expectations, indicating the government's commitment to resolving CHINA VANKE's liquidity issues. With CHINA VANKE as a precedent for other inventory acquisition actions, the implementation of subsequent measures will be facilitated, said the broker. In addition, the support given to CHINA VANKE was far beyond expectations, showing a shift in policy toward more aggressive intervention. Among Chinese developers, the broker preferred CHINA RES LAND (01109.HK), CHINA RES MIXC (01209.HK), KE Holdings (BEKE.US), and LONGFOR GROUP (00960.HK), all rated as Buy. Their target prices are listed in a separate table. AAStocks Financial News |
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