Hong Kong’s Hang Seng and Shanghai Composite both higher – property stocks on the rise | Forexlive

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