Asia Pacific Equity Strategy and Quantitative Research 10 December 2025 China Property Rmb400bn mortgage subsidies? On 10th December, the sector rallied 3% (HSI: +0.4%) on the back of market speculation about policymakers considering providing mortgage subsidies. This market speculation is not new as it was already reported by Bloomberg on 20th November (more), although the latest version includes the potential size (Rmb400bn). Generally, we believe this policy direction is possible. However, we do not thin ...