You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行報告》瑞銀:內房迎來轉折點 料銀行總資金支持將逾1萬億人幣
瑞銀髮表報告表示,就中國人民銀行和銀保監會聯合發佈放寬房地產信貸政策的聯合文件,發佈第254號聯合政策文件,在六個領域採取16項措施,以增加對項目交付、開發商融資和保護購房者合法權益的金融支持,該行認爲內房行業迎來轉折點,指政策有兩個新點,第一是鼓勵內地銀行和信託公司延長建設貸款期限,併爲開發商完成項目提供信託融資;第二是爲民營企業發債提供增加信用支持。 該行認爲,第一點鼓勵內地銀行和信託公司延長建設貸款期限,將有利於開發商的經營現金流和竣工,而該行認爲第二點(爲民營企業發債提供增加信用支持)將有利於民營開發商的融資現金流,加上2,500億人民幣債券發行計劃的支持,該行認爲這可能標誌着內地房地產行業的轉折點,因爲政府在支持行業的基礎上再支持開發商。 瑞銀表示,254號文件是監管機構關於銀行對房地產行業支持的更全面的指導,其中包括六個關鍵領域,預計銀行的總資金支持最終將超過1萬億人民幣,包括政策性銀行對地方政府的貸款(對未完工項目的注資)和商業銀行的配套貸款(對未完工項目)、物業公司債券投資、到期貸款的授信等。該行指,房地產低迷最終可能會給銀行帶來顯着的不良貸款,但料影響仍屬可控,該行指看好股份制銀行如招行(03968.HK)和平安銀行(000001.SZ)、以零售爲重點的大型銀行如郵儲銀行(01658.HK),亦看好優質區域銀行如寧波銀行(002142.SZ),料隨着中國放鬆對新冠疫情的控制,這些銀行可能會從零售銀行和財富管理的復甦中受益。至於大型國有銀行料在市場反彈中表現較落後。 該行表示,由於內地房地產低迷明顯影響經濟和地方政府財政,決策當局在放寬房地產融資方面採取了更爲果斷的步驟。即房地產銷售和開工應在經季節性調整的基礎上在未來幾個月內穩定下來,然後依次回升。因此,該行認爲內房對2023年GDP增長的拖累將要小得多。
Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account