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《大行報告》華泰證券:人行重啟投放新增抵押補充貸款(PSL) 料有望加快「三大工程」
華泰證券發表研究報告指,人行宣布國開行、進出口銀行、農行淨新增抵押補充貸款(PSL)3,500億元人民幣。在「三大工程」被中央經濟工作會議等重要會議頻頻提及的背景下,PSL時隔10個月後再度擴容,該行預計有望加速「三大工程」的落地,並看好舊改經驗和資源豐富的國企以及具備改善性產品能力的房企, 此外,代建能力突出以及在核心城市有充沛儲備的公司也有望受益;同時重點推薦越秀地產(00123.HK)、建發國際集團(01908.HK)、華潤置地(01109.HK)、中國海外發展(00688.HK)、龍湖集團(00960.HK);至於物管公司方面,看好中海物業(02669.HK)、保利物業(06049.HK)、華潤萬象生活(01209.HK)、濱江服務(03316.HK)、招商積余(001914.SZ)、萬物雲(02602.HK)。 根據該行測算,城中村改造和保障房建設分別涉及10萬億量級和2至5萬億級別的投資體量。據上一輪PSL對地產民生工程的支持來看,後續的投放有望保持節奏,這將意味加快「三大工程」的建設進度。該行又指,地方層面也開始在項目層面逐步落實,各地各部門都在加快城中村改造以及保障房建設的推進工作。資金支持以及項目落實雙管齊下,有望助力「三大工程」提速。 (ca/w) ~
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