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《大行報告》花旗:中國對內房政策立場重大轉變 招行(03968.HK)最受惠
花旗發表研究報告指,人行及中銀保監等日前聯合發布支持房地產市場平穩健康發展的通知,共出台16項措施,涉及融資、抵押要求、建築行業、對財困企業風險管控以及保障買家合法權益等,是至今為止最全面的房地產市場支持措施。 該行指,過往當局對於樓市只會零散地出台調控措施,而今次則是代表監管機構對房地產行業及開發商的政策立場發生重大轉變,從限制改為提供支持,從「救項目不救開發商」轉變為「救開發商及項目」,相信有助緩解投資者對開發商信貸風險的擔憂。 花旗相信,政策訊號亦對一些房地產開發商業務敞口較高的銀行有利,包括平安銀行、興業銀行及招商銀行(03968.HK)等,當中招行上半年致力降低房地產行業及其他較風險行業的敞口,期內表外房地產行業貸款佔比削減23.2%,整體表內表外佔比亦下降12.3%,對比同業僅單位數降幅,相信是最有潛力反彈的內銀股,予「買入」評級,目標價53.7元。
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