Equity Research in HK and Mainland China

Li Tang

Highly experienced sell-side analyst with more than ten years of experience in the field of China’s in-depth policy-driven macro research in China (Beijing) .
Covering in equity research in HK and Mainland market mainly real estate, construction,steel sector.
The Ideas generation based on an analysis of China’s future direction and policy decisions fundamental analysis on sector impact, market drivers, timing and scale, combined with quantitative analysis.

Which Sectors Should Benefit from the Launch of China REITs?

Chinese Expressways: A Step In The REIT Direction

China Infrastructure REITs: First Look on H-Share Toll Road Sector

Thematic (Sector/Industry)

China Equity real estate investment trusts (reits) / Thematic (Sector/Industry)

<p> The Shanghai Stock Exchange, (SSE)The Shenzhen Stock Exchange(SZSE) , and the Securities Association of China (SAC) officially published a set of supporting rules for pilot infrastructure REITs, in an important step towards forming a new mode of infrastructure finance. While the NDRC published a circular recently aiming to establish a national project database of infrastructure REIT.</p>
<p>As the economy is back on a positive trajectory, we expect government spending in infrastructure to slow as a proportion of GDP compared with last year. We also expect a more rigorous selection of project types, focusing on investment in new infrastructure in major city clusters that are also more attractive to outside investment where the pilot REITs project can play a bigger role.</p>

 The Shanghai Stock Exchange, (SSE)The Shenzhen Stock Exchange(SZSE) , and the Securities Association of China (SAC) officially published a set of supporting rules for pilot infrastructure REITs, in an important step towards forming a new mode of infrastructure finance. While the NDRC published a circular recently aiming to establish a national project database of infrastructure REIT.
As the economy is back on a positive trajectory, we expect government spending in infrastructure to slow as a proportion of GDP compared with last year. We also expect a more rigorous selection of project types, focusing on investment in new infrastructure in major city clusters that are also more attractive to outside investment where the pilot REITs project can play a bigger role.

China Moves Forward with Infrastructure REITs