Shares of China?s property developers rallied Wednesday morning, as concerns over further tightening measures for the country?s real estate sector eased after Beijing?s latest remarks on property market.
China Vanke, the country?s largest property developer by market value, was recently up 4.0% at 9.63 yuan, Gemdale Corp gained 4.9% to 6.86 yuan, while Poly Real Estate added 4.5% to 10.31 yuan.
Analysts said the sector could gain more if Beijing takes measures to relax its controls on the property market, such as loosening curbs on financing options for property developers, in the coming months.
China?s top decision-making body, the Communist Party?s Politburo, said Tuesday that it will maintain steady economic growth in the second half of the year amid ?extremely complicated? domestic and international conditions, the state-run Xinhua News Agency reported.
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