0230 GMT - Guangzhou's removal of price controls for the property sector will help boost momentum in the new-home market, HSBC Global Research analysts write in a note. Guangzhou has started soliciting public opinion on its new plan to stimulate consumption, marking the first time the removal of property price controls has been explicitly announced since the sector downturn, they say. The move is a clear positive that is expected to drive prices higher and prompt other Chinese cities to follow suit, they add. It could also pave the way for reduced prices on older inventory, thereby speeding up cash collection for developers seeking to clear their inventory. Among sector stocks, HSBC Global Research has a buy rating on China Resources Land, China Jinmao and C&D Property Management. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
June 15, 2025 22:30 ET (02:30 GMT)
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