HSBC on recent China policy support, reason to tentatively buy mainland & Hong Kong stocks ...Middle East

Chinese authorities announced a number of policy measures aimed at support for the property sector during May including:lowering down payment requirements300 bn RMB (yuan) in a relending programme for local governments to acquire properties and convert them into social housingnational floor for mortgage interest rates will be removedThe IMF upgraded their view on China also:The IMF has upgraded China's economic growth target to 5%, from 4.6%IMF Deputy Managing Director sees scope for more policy to address China property sectorMore from IMF on China: Fiscal policy needs to reorient further to domestic consumptionHSBC, in brief, say that the supportive policy measures are enough encouragement

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