Chinese property developer rally after official pledged more efforts to resume installed projects, Suzhou further relaxed property curbs
STOCKS
Chinese property developer rally after official pledged more efforts to resume installed projects, Suzhou further relaxed property curbs
STOCKS

Chinese property developer rally after official pledged more efforts to resume installed projects, Suzhou further relaxed property curbs

 

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Shares of Chinese property developers stage a strong rally on Thursday on further policy easing. In Hong Kong, shares of Times China surging nearly 13%, CIFI Holdings up 9.2%, Country Garden jumping 7.5%, Logan Group, KWG Group and Longfor Group up more than 6%.

In Mainland China, an index tracking property developers compiled by Wind Information is surging 2.5%, making it the best-performing sector in the A-share market.

Chinese authorities are ramping up efforts to resume stalled property projects and ensure housing delivery and the government is defusing market risks, said Wang Shengjun, spokesperson of the Ministry of Housing and Urban-Rural Development, at a press conference on Wednesday. Read more …

The city of Suzhou, a high-tech hub in East China’s Jiangsu province, has relaxed home purchase restrictions for non-local residents, those without local Hukou. Read more …

The city of Guangzhou, capital of South China’s Guangdong province and one of the country’s four tier-one cities, will relaxed restrictions on new home prices, according to Chinese news outlet Yicai.

According to data compiled by China Index Academy, more than 250 provinces and cities have relaxed real estate policies for more than 700 times.

chinese property developers