On Aug. 28, 2026 the Ministry of Housing and Urban-Rural Development and four
other ministries implemented a package of real-estate measures. CITIC Securities
says the rollout should help align property-credit frameworks with a
higher-quality development model, leaving scope for incremental bank real-estate
lending and ushering in a high-certainty improvement in asset quality. Banks’
interim reports show optimistic net interest margins, stable asset quality,
broadly positive but divergent revenue performance, and continued
profit-recovery momentum. Some banks have raised dividend payout ratios,
supporting shareholder returns and favoring long-term investors. Looking into
Q3, CITIC expects core variables—margins and asset quality—to remain stable and
full-year profit trends to stay positive, with macro narratives and longer-term
drivers still intact, supporting continued absolute returns for the year.
