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<Research>CICC Says CN Developers' Transition Toward Asset Mgmt An Inevitable Direction; '15th 5-Yr Plan' Probably Key Period for Institutional Development
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In recent years, policies have consistently emphasized the transition of the real estate industry to a new model, CICC said in its research report. From the perspective of enterprises, the future high-quality development of the housing business and the increased focus on operational real estate business have become fundamental trends. Over the past 40 years, the evolution of overseas real estate enterprises has ultimately led some industry entities to successfully transition to asset management platforms. This transition was built on the backdrop of increasing asset securitization and capital globalization. CICC highlighted that CHINA RES LAND (01109.HK), as China's leading real estate company with the strongest comprehensive business capabilities and the earliest to propose a major asset management strategic transformation, is gradually being recognized for its strategy by the market. In terms of corporate form, companies with a relatively high proportion of holding properties (such as LONGFOR GROUP (00960.HK)) have opportunities for such transformation. The capital market structure of separating light and heavy platforms within enterprises also has a certain consensus, which can fully realize the release of corporate value. AAStocks Financial News |
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