Supportive comments from Chinese authorities on the property secotr are flowing through to property developer stocks and Chinese markets more broadly.
Overnight developments:
The China Securities Regulatory Commission (CSRC)
- will support the transformation of the real estate development model
- will help high quality real-estate firms improve their balance sheet
- will increase access to credit, and support private enterprises to issue bonds and raise equity
PBOC:
- To meet reasonable financing demand of property sector
- strongly support recovery and expansion of consumption, key infrastructure, and construction of major projects in line with national development plan
news.google.com