Changes in Hong Kong stocks | Domestic housing stocks generally rose in early trading, and the Central Economic Work Conference set the tone for real estate accumulation to actively and steadily mitigate risks in key areas

The Zhitong Finance App learned that domestic housing stocks generally rose in early trading. As of press release, Rongxin China (03301) rose 5.92% to HK$0.161; Shimao Group (00813) rose 4.83% to HK$0.217; Agile Group (03383) rose 3.28% to HK$0.315; R&F Real Estate (02777) rose 3.03% to HK$0.68; Sunac China (01918) rose 2.27% to HK$1.35.

According to the news, the Central Economic Work Conference was held in Beijing from December 10 to 11. The meeting decided that next year's economic work will carry out the following key tasks. Adhere to the bottom line and actively and steadily mitigate risks in key areas. Efforts are being made to stabilize the real estate market, and to encourage the acquisition of existing commercial housing to focus on affordable housing due to city policies to control growth, remove inventory, and improve supply. Deepen the reform of the housing provident fund system and promote the construction of “good houses” in an orderly manner. Accelerate the construction of a new model for real estate development. Resolve local government debt risks in an active and orderly manner, urge all regions to take active debt, and not add hidden debts in violation of regulations. Optimize debt restructuring and replacement methods, and take more measures to mitigate the operating debt risks of local government financing platforms.

In an interview, an analyst at Zheshang Securities said, “The statement at the beginning of the section of the Politburo meeting in December 2024 was 'effectively prevent and mitigate risks in key areas and firmly adhere to the bottom line where systemic risks do not occur. 'This conference was 'stick to the bottom line and actively and steadily mitigate risks in key areas'. One of the expressions for risk mitigation was 'effective prevention', and the other was 'active and stable'. We believe that in response to recent risk events in some enterprises, the changes from prevention to response are worth paying attention to, and that the 'steady' treatment of related marketization and legalization may gradually unfold in the future.”