[免费]HSBC Credit Research: 1H10 outlook on China property【59页】

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Residential property prices well supported in 1H10 with supply yet
to catch up until 2H10. Policy risk evident but no vigorous
tightening measures expected to be introduced in 1H10
Barbell approach – Buy AGILE’13, AGILE’16, COGARD’14,
CSTGR’12, NECHIN’14. Buy ROADKG’11 and SHIMAO’11 as
low-beta hold-to-maturity play

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