China's PBOC and a financial regulator jointly issued a policy document reforming real estate credit management to support a new development model, sending Hong Kong-listed mainland property stocks surging, with Sunac up over 14%, Country Garden up over 14%, Shimao up over 10% and Vanke up over 8%.
Beijing is easing credit rules for property developers, signaling stronger policy backing for the sector. The heaviest-indebted names, Sunac and Country Garden, rose the most, suggesting investors see the credit relief as most meaningful for distressed builders.