Huatai Securities released a research report. Beijing has issued a new policy on real estate, which, like Shenzhen, focuses on credit and does not involve purchase restriction policies. The bank believes that the implementation of the policy in Beijing this time is in response to the new policy of May 17th, which reflects the regulators' clear demand for "stable real estate" in the practical level, and is expected to promote confidence in the real estate market repair and bottoming out as soon as possible, providing valuation repair space for the sector.

The bank pointed out that sustained policy improvements are expected to stabilize market expectations. The bank is bullish on high-quality real estate developers and property management companies with sufficient resources in core cities and stable operations, focusing on recommending C&D International Group (01908.HK), Yuexiu Property (00123.HK), China Resources Land (01109.HK), China Overseas Development (00688.HK), and Longfor Group (00960.HK). As for the property management companies, they are optimistic about China Resources Mixc (01209.HK), Poly Property Services (06049.HK), Binjiang Services (03316..HK) and Wanyu Cloud (02602.HK).