ANZ Research said China's mortgage down payment requirement relaxation announced yesterday can be regarded as a policy easing and can boost growth.
It noted that recent property price data indicate that the real estate market continues
to trend down, weighing on the growth momentum of China's economy.
Given the relaxation for the property sector, ANZ believes that there is an upside risk to its current GDP forecast of 6.7% in 2Q. If policymakers are willing to accommodate with monetary policy such as interest rate cut and lowering of reserve requirement ratio, the research house believes the target of about 7% growth should be attainable.
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