Beijing's ambition to privatise the housing market is unlikely to give an immediate boost to the earnings of Hong Kong property companies investing in mainland mass housing projects, fund managers said.
The housing reform plan - announced by Premier Zhu Rongji at the ninth National People's Congress last month - did not encourage them to increase the weighting on those mainland property plays, they said.
LGT Asset Management investment director Billy Chan Lee-wang said Beijing's policy to encourage private home ownership would help develop the mainland's housing sector in the long run.
But he anticipated Beijing was unlikely to see any achievements in the next two years of implementation.
Mr Chan said Hong Kong property companies would not benefit from the policy in short term, adding that Beijing's push in the housing sector would not encourage him to increase weighting of those property companies.
To widen private home ownership, Beijing decided to scrap welfare housing for the country's millions of state urban workers this year.