Citigroup says supply–demand in core Chinese cities has improved and robust
transaction volumes should accelerate developers’ September sales. It notes the
State Council widened housing provident fund withdrawal uses to include home
renovation and property-management fees, supporting property-management revenue
and value-added services. Citigroup expects more new project launches in
September that could propel an Aug–Oct sector upswing; top picks: China Overseas
(00688.HK), C&D International (01908.HK), CHINA RES LAND (01109.HK), KE
Holdings-W (02423.HK) and China Jinmao (00817.HK).
