地方融资平台告急,地产调控政策将纠偏(国外英文资料).docVIP

地方融资平台告急,地产调控政策将纠偏 Local financing platform emergency, real estate regulatory policy will rectify.Txt [Table_KeyInfo] Securities Research Report - dynamic report / music industry Real estate [Table_IndustryInfo] On the real estate industry Recommend cautiously (maintain rating) July 1, 2011 [Table_Title] Local financing platform emergency, real estate regulatory policy will rectify Securities analyst: Yan Fang 0755Fangyan@ Certificate of qualification for securities investment consulting: S0980510120001 Securities analyst: District Shui 0755Ourm@ Certificate of qualification for securities investment consulting: S0980510120051 Contacts： Huangdaoli 0755Huangdl@ Matter： [Table_Summary] June 30th, the real estate sector showed a larger increase, the plate rose 1.88%, outperforming the CSI 300 index 0.42%, second in the SFC 23 industries. Review: Real estate plate in the first half of the first row, confirmed our strategy in the 2011 year of forward-looking judgments In the first half, the real estate sector rose 3.93%, in all sectors (SFC classification), or ranked first, outperforming the market (CSI 300) 4.1 percentage points Point, is one of the three absolute profits of the plate, even if the stock price elasticity of Vanke A, in the first half also has positive returns. Real estate stocks in the first half of the strong Potential performance fully confirms our judgment in the 2011 Annual strategy of December 15, 2010: enter, attack, retreat and defend. Real estate regulation has caused a sharp decline in land leasing, the risk of local government financing platform appears Under the strict control policy, leading the company defense mentality increasingly strong, Vanke, Hengda, the leading enterprises such as the amount of sales / purchase amount ratio Rapid ascent: Vanke 2010 sales / purchase amounted to 1.3, while the 1-4 months of this year soared to 2.5 in 2010, the golden ratio is 2.46 this year. 1-4 months soared to 11.6, while