The "report on China wealth prosperity index" issued by the Bank of communications yesterday shows that the willingness of the well-off families to invest in the current assets has emerged as a "only favoured stock" phenomenon, while the willingness to invest in real estate creates a new low.
According to statistics, so far 30 cities in China have relaxed the restrictions on purchases, accounting for 65% of all 46 cities, but the effect of the relaxation of restrictions on purchases is limited. The survey shows that the real estate investment willingness of well-off families is 3 percentage points lower than that in May, and is in the "recession" range. From the point of view of the region, most of the country has shown different degrees of decline in investment will, while Beijing, Shanghai, Guangzhou, Shenzhen and other core cities of real estate investment will fall more than non core cities, the core city real estate investment intention index fell into the recession for the first time.
It is noteworthy that, after the restriction of the purchase, the family (no family family and a family holding a set of housing) just needs to show a stronger attitude than the multi suite family. The chief economist of the Bank of communications Lian Ping analyses the reason that house buyers have the mentality of "buying up and not falling" in the process of falling house prices, making it difficult to show the effect in the short term. Lian Ping pointed out that for China's real estate industry, this is a good opportunity to squeeze out some local bubbles.
In terms of current assets, the willingness to invest in various types of investment products has generally declined, while the stock investment willingness has risen against the trend and excelled. Lian Ping pointed out that recent declines in bank financing, bond and fund returns have reduced the willingness of well-off households to invest in most liquid assets. The reason for the rise in confidence in the stock market is probably due to the improvement of the market environment. Lian Ping analysis, "in the last 5 months, the macroeconomic stability in the better trend is clearer, the market liquidity is more abundant, the monetary policy is relatively stable and slant, and the Shanghai port and other good expectations, all of which have created a better external environment for the stock market."