On January 26th, the real estate sector opened higher, with Pudong Jinqiao (600639)(600639.SH), China Enterprise (600675)(600675.SH) as four boards, Everbright Jiabao (600622)(600622.SH) and Waigaoqiao (600648).
In the news, since 2024, relevant policies on financial support for the reasonable financing needs of the real estate market have been intensively introduced. On January 12, the Ministry of Housing and Urban-Rural Development and the General Administration of Financial Supervision jointly issued the Notice on Establishing a Coordination Mechanism for Urban Real Estate Financing; On January 24th, the Central Bank and the General Administration of Financial Supervision jointly issued the Notice on Doing a Good Job in the Management of Operating Property Loans.
Ensure the smooth operation of the real estate market
According to the General Administration of Financial Supervision, up to now, the balance of real estate development loans and personal housing loans in China is 12.3 trillion yuan and 38.3 trillion yuan respectively.
In 2023, Chinese banks issued 3 trillion yuan of development loans and 6.4 trillion yuan of housing mortgage loans respectively, which add up to nearly 10 trillion yuan.
In addition, last year, banks also provided real estate enterprises with M&A loans and stock extension loans, which added up to more than 1 trillion yuan.
As for Baojiaolou, by the end of 2023, most of the 350 billion yuan special loan for Baojiaolou has been put into the project, and commercial banks have also provided corresponding commercial supporting financing to ensure the smooth completion of the task of Baojiaolou.
Continue to provide financial support.
Next, the state will continue to provide financial support for the real estate market.
The General Administration of Financial Supervision said that in the future, the coordination mechanism of urban real estate financing will be accelerated and effective. Under the lead coordination of the government, push the list of real estate projects that can be given financing support to financial institutions in the region.
At the same time, guide financial institutions to further implement the management requirements of operating property loans. For real estate development enterprises with standardized operation and good development prospects, banks are allowed to issue operating property loans to them, which can be used to repay the stock loans of housing enterprises and the open market bonds they issue before the end of 2024.
In addition, we should continue to do a good job in personal housing loan financial services, support local governments to make policies according to the city, further optimize personal housing loan policies such as down payment ratio and loan interest rate, and urge banks to better serve the financing needs of people’s rigid and improved housing.
Guide banks and other financial institutions to continue to vigorously support the construction of "three major projects" such as "emergency and emergency" major infrastructure and urban village reconstruction, and form a physical workload as soon as possible.
Multi-share daily limit of real estate sector
Thanks to favorable policies, the real estate sector has also shown signs of stabilizing, and brokers are generally optimistic about the allocation opportunities of the real estate sector.
Open source securities said that the fundamentals, valuation level, allocation ratio and market expectation of the current real estate sector are at a low level, and the policy window period is worthy of attention. Follow-up can pay more attention to strong credit housing enterprises with excellent layout, high investment intensity and marketization mechanism.
Founder Securities believes that the valuation of the real estate sector is in a historically low range, the industry has a good policy environment for stabilization, and the resilience of the sector rebound is sufficient. In addition, the fundamentals of the whole sector have structural support, and the real estate sector is expected to continue to rebound under the catalysis of favorable policies. You can focus on the theme of Pudong reform, second-hand housing track, high dividends and so on.
From the perspective of disk performance, the performance of individual stocks superimposed with the concept of Shanghai Free Trade Zone is more eye-catching. Among them, Pudong Jinqiao, Chinese enterprises, etc. have gone out of the fourth board, and Everbright Jiabao, Waigaoqiao and other stocks have also won the third board.
As of noon on January 26th, the real estate service sector rose by 3.79%, and the real estate development sector rose by 3.32%.