China top news。    COFCO gauges restructuring possibilities of its real estate business。    According to a media report, COFCO Group is studying the possibilities ofrestructuring its real estate business to enhance efficiency. Currently, COFCOholds 66.76% of Joy City (0207.HK) via its subsidiary COFCO (Hong Kong)Limited. Under the restructuring proposal, COFCO Property (000031.SZ) willacquire the ownership stake in shares/cash and will become the intermediateholding company of Joy City. (Guandian)。    Foshan promotes commercial/office conversion for residential rental。    To promote the house leasing market, the Bureau of Housing and Urban-RuralDevelopment in Foshan released a policy circular on the conversion ofcommercial/office buildings to residential rental housing. The circular stated theapplication procedure and basic requirements regarding the amenities andfacilities in buildings for conversion. The ownership of converted houses cannotbe sold or transferred for 10years after the conversion. (Guandian)。    Hong Kong top news。    Parc City records 31x oversubscription thus far。    Parc City has received ~16,500tickets so far, reflecting a 31x oversubscriptionto 521units to be offered for presale. As the project received the most numberof tickets in 2017, it surpassed the ~14,500tickets received by the first batchof Ocean Pride. Parc City will close subscription today. In August 2016, theGrand Yoho Phase 1received over 16,700tickets, the highest since 1997.(HKET)。

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