<p>摩根大通發佈了一份研究報告，指出深圳在昨天（29 日）推出了一輪新的房地產支持措施，這距離該市去年九月最後一次放寬政策已經過去七個月。這一舉措符合市場預期，因為北京和上海分別在去年十二月和今年二月也進行了類似的調整。然而，深圳的放寬程度強於北京和上海。該銀行預計，地方交易量和房價將在至少一到兩個月內改善。</p>
<p>報告指出，深圳的購房限制放寬主要針對非本地居民，放寬力度相對較強。例如，非本地家庭只需提供一年的納税證明即可在限制區域購買最多三套房。而相比之下，上海要求提供三年的納税證明，並允許在外環內購買最多兩套房，北京則要求提供兩年的納税證明，僅允許在第五環內購買一套房。</p>
<p>該銀行認為，許多投資者不再關注地方政策放寬的短期影響，而是期待市場的潛在內生改善。在接下來的三到六個月內，該銀行看好中國海外（00688.HK）-0.130 (-0.974%) 空頭頭寸 2.2016 億；比例 26.716%，其股價滯後但年初至今銷售表現出色，以及中國金茂（00817.HK）+0.010 (+0.599%) 空頭頭寸 1234 萬；比例 10.214%，其銷售勢頭預計將保持強勁。該銀行對中國房地產（01109.HK）-0.360 (-1.092%) 空頭頭寸 1.8693 億；比例 20.040% 和中國瑞安（01209.HK）-0.560 (-1.172%) 空頭頭寸 3618 萬；比例 32.839% 也持積極看法。</p>
<p>摩根大通補充説，考慮到近期市場指標的改善，如二手交易量和價格，預計近期不會推出全國性的放寬政策。（hc/u）（香港股票報價延遲至少 15 分鐘。空頭數據截至 2026 年 4 月 29 日 16:25。）</p>
<p>本文由 AI 自動翻譯，中文版本應視為權威版本。AASTOCKS.com 有限公司不保證其準確性或完整性，並對因使用本翻譯而產生的任何損害或損失不承擔任何責任。</p>

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<p>摩根大通的報告強調了深圳最近的房地產政策放寬，這一舉措比北京和上海的類似措施更為顯著。新規主要惠及非本地居民，允許他們僅憑一年的税務證明購買最多三套房產。該銀行預計未來幾個月交易量和房價將改善，傾向於看好中國海外宏洋集團和中國金茂，因其銷售表現強勁。摩根大通預計近期不會出現全國性的放寬政策，考慮到最近市場的改善</p>

<p>JPMorgan published a research report stating that Shenzhen rolled out a new round of property support measures yesterday (29th), seven months after the city last relaxed policies in September last year. The move was in line with market expectations, as Beijing and Shanghai introduced similar adjustments in December last year and February this year, respectively. However, the degree of easing in Shenzhen is stronger than that in Beijing and Shanghai. The bank expects local transaction volumes and property prices to improve for at least one to two months.</p>
<div class="lb-trans"><p>摩根大通發佈了一份研究報告，指出深圳在昨天（29 日）推出了一輪新的房地產支持措施，這距離該市去年九月最後一次放寬政策已經過去七個月。這一舉措符合市場預期，因為北京和上海分別在去年十二月和今年二月也進行了類似的調整。然而，深圳的放寬程度強於北京和上海。該銀行預計，地方交易量和房價將在至少一到兩個月內改善。</p>
</div><p>The report noted that the relaxation of purchase restrictions in Shenzhen mainly targets non-local residents, with relatively stronger easing. For example, non-local households are only required to provide one year of tax payment proof to purchase up to three units in restricted areas. In comparison, Shanghai requires three years of tax payment proof and allows the purchase of up to two units (within the outer ring), while Beijing requires two years of tax payment proof and permits the purchase of only one unit (within the fifth ring).</p>
<div class="lb-trans"><p>報告指出，深圳的購房限制放寬主要針對非本地居民，放寬力度相對較強。例如，非本地家庭只需提供一年的納税證明即可在限制區域購買最多三套房。而相比之下，上海要求提供三年的納税證明，並允許在外環內購買最多兩套房，北京則要求提供兩年的納税證明，僅允許在第五環內購買一套房。</p>
</div><p>The bank believes that many investors are no longer focusing on the short-term impact of local policy easing, but are instead expecting potential endogenous improvement in the market. Over the next three to six months, the bank favors CHINA OVERSEAS (00688.HK) -0.130 (-0.974%)  Short selling $220.16M; Ratio 26.716%  , whose share price has lagged but has delivered outstanding sales performance year to date, as well as CHINA JINMAO (00817.HK) +0.010 (+0.599%)  Short selling $12.34M; Ratio 10.214%  , whose sales momentum is expected to remain strong. The bank also has a positive view on CHINA RES LAND (01109.HK) -0.360 (-1.092%)  Short selling $186.93M; Ratio 20.040%  and CHINA RES MIXC (01209.HK) -0.560 (-1.172%)  Short selling $36.18M; Ratio 32.839%  .</p>
<div class="lb-trans"><p>該銀行認為，許多投資者不再關注地方政策放寬的短期影響，而是期待市場的潛在內生改善。在接下來的三到六個月內，該銀行看好中國海外（00688.HK）-0.130 (-0.974%) 空頭頭寸 2.2016 億；比例 26.716%，其股價滯後但年初至今銷售表現出色，以及中國金茂（00817.HK）+0.010 (+0.599%) 空頭頭寸 1234 萬；比例 10.214%，其銷售勢頭預計將保持強勁。該銀行對中國房地產（01109.HK）-0.360 (-1.092%) 空頭頭寸 1.8693 億；比例 20.040% 和中國瑞安（01209.HK）-0.560 (-1.172%) 空頭頭寸 3618 萬；比例 32.839% 也持積極看法。</p>
</div><p>JPMorgan added that in light of recent improvements in market indicators, such as secondary transaction volumes and prices, it does not expect nationwide easing policies to be introduced in the near term. (hc/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-29 16:25.)</p>
<div class="lb-trans"><p>摩根大通補充説，考慮到近期市場指標的改善，如二手交易量和價格，預計近期不會推出全國性的放寬政策。（hc/u）（香港股票報價延遲至少 15 分鐘。空頭數據截至 2026 年 4 月 29 日 16:25。）</p>
</div><p>This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.</p>
<div class="lb-trans"><p>本文由 AI 自動翻譯，中文版本應視為權威版本。AASTOCKS.com 有限公司不保證其準確性或完整性，並對因使用本翻譯而產生的任何損害或損失不承擔任何責任。</p>
</div>

JPM: Shenzhen Property Policy Easing; Favors CHINA OVERSEAS  and CHINA JINMAO

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摩根大通

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摩根大通：深圳房地產政策放寬；看好中國海外宏洋集團和中國金茂