China Property Weekly Digest: Window guidance to ease liquidity pressure
- PBoC is encouraging banks and AMCs to provide liquidity support to 12 developers by facilitating M&A of projects without “four certificates”, allowing extension of overdue loans after provision of credit enhancements by lenders, timely release of development and mortgage loans, etc.
- MTD Average weekly GFA sold in 27 cities we track fell 53.1% y-o-y in Apr-22
- Average short-selling interest in the sector held steady at 16% last week. Average southbound interest edged up 4bps to 7.84%
- Sector top picks: COLI (688 HK), COGO (81 HK), Longfor (960 HK), Yuexiu Property (123 HK) and CR Land (1109 HK)