China's housing market recovery beat expectations, triggers strong rally in developers stocks

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China's housing market is showing stronger-than-expected recovery as the economy emerges from the coronavirus shutdown, triggering a rally in developers' stocks.

The house market has so far recovered to the highest level since 2019, said the Centaline Property Agency in a report.

In particular, home transactions in Beijing, Shenzhen and Guangzhou increased further on a month-over-month basis in June, to a level largely in line with the same period last year.

Take the city of Shenzhen as an example. According to data from the city's real estate . . .

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