Citi: Optimistic about the rise of mainland property stocks from August to October, with CHINA OVERSEAS (00688) and C&D INTL GROUP (01908) as top picks.

Citigroup released a research report stating that the supply and demand in core mainland cities are becoming healthier. Driven by the continued strong market transactions, sales growth of mainland property stocks is expected to accelerate in September. Recently, the authorities revised the "Housing Provident Fund Management Regulations" to expand the withdrawal purposes to include home renovations, property management fees, and more, which is beneficial for the collection of fees in the property management industry and the development of value-added services. The bank believes that many developers will launch more new projects for sale in September, potentially driving the mainland property sector to experience an upward trend from August to October. Preferred stocks include CHINA OVERSEAS (00688), C&D INTL GROUP (01908), CHINA RES LAND (01109), BEKE-W (02423), and CHINA JINMAO (00817).