Changes in Hong Kong stocks | Domestic housing stocks generally fall in early trading, the market is concerned about commercial housing sales systems say the decline in sales will further accelerate the pace of policy easing

The Zhitong Finance App learned that domestic housing stocks generally fell in early trading. As of press release, Sunac China (01918) fell 4.11% to HK$1.4; Greentown China (03900) fell 3.11% to HK$9.36; R&F Real Estate (02777) fell 2.02% to HK$0.97; and Xincheng Development (01030) fell 1.56% to HK$1.89.

According to the news, Li Yunze, director of the General Administration of Financial Supervision, recently revealed at a press conference held by the State Information Office that the General Administration of Financial Supervision will speed up the improvement of a series of financing systems that match the new model of real estate development. Some industry insiders said that existing housing sales, urban renewal, inventory revitalization, and the consolidation of rental and purchase will become key areas of support for the financing system. Furthermore, recently there were media reports that China is considering promoting a nationwide sales system for commercial housing in order to restore the confidence of buyers in the property market.

Guoxin Securities pointed out that during the May Day holiday, according to Kerry statistics, the performance of the property market was slightly lackluster, and the subscription area of 19 key cities dropped slightly by 4% over the same period last year. At the level of the top 100 housing enterprises, according to statistics from the China Index, the sales volume of TOP100 housing enterprises fell 16.9% year-on-year in April, up from the monthly decline in March. The bank pointed out that after experiencing a pulse-recovery in demand in the first quarter, demand for home purchases surged and fell in the short term, compounded by a slowdown in housing companies' push, and the recovery in real estate sales was weak. In the context of the Politburo meeting setting the tone for “continuing to consolidate the stable trend in the real estate market,” the decline in sales will further accelerate the pace of policy easing.