Hopes of real estate curbs easing help shares gain
Print Edition
SHANGHAI stocks recovered yesterday after two days of losses as property developers rose on hopes the central government will ease control on the real estate sector and they will profit from China’s urbanization process.
The Shanghai Composite Index rose 0.32 percent, or 6.49 points, to 2,059.58.
Property shares gave a boost to the market as the central government work report for 2014 says China will vary property regulations for different cities and increase housing supply to damp speculative demand and promote healthy development of the real estate sector.
The wording “is much softer in this year’s report, signaling a loosening of government control over the sector,” Yi Huaqiang, analyst with Huarong Securities, said in a report yesterday.
The government was urged to build a housing control system in last year’s report.
“Meanwhile, promoting urbanization remains the priority for the government work this year. That would help boost home demand,” Yi said.
The central government says it will conduct “a people-centered urbanization” which aims to offer urban homes to 100 million rural residents who have moved to cities.
Poly Real Estate, China’s second-largest listed developer, surged 5.4 percent to 7.01 yuan (US$1.15). China Fortune Land Co jumped 6.9 percent to 21.56 yuan. Gemdale Corp added 2.7 percent to 6.40 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
