China property stocks rise after easing of share financing rules

SHANGHAI : China's property shares jumped on Friday after state media said authorities will ease share financing rules for certain real estate-related firms, fuelling hopes of more measures to aid the struggling sector.

For eligible companies, real estate must not be their core business, and should not contribute more than 10 per cent of their profit, according to the article. Some companies with real estate-related businesses, including Zhongtian Financial Group Co Ltd, Jinan high-tech development co. ltd and Shenzhen New Nanshan Holding Group Co Ltd, saw their shares surge above 5 per cent. Analysts say these companies will likely benefit directly from the rule changes.

"The move aims to better support real financing for firms and stabilise the broader economy," said Liu Shui, an analyst at China Index Academy.China's central bank and banking regulator have taken steps to ease liquidity pressure in the property sector, where many companies are suffering from slumping investment and sales on top of mountains of debt.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Taiwan-China, U.S.-China tensions 'serious' challenge for chip industry, TSMC saysHSINCHU, Taiwan : Rising Taiwan-China and U.S.-China tensions have brought 'more serious' challenges for the semiconductor industry, the chairman of Taiwanese chipmaker TSMC said on Wednesday.Taiwan is a major producer of chips used in everything from cars, smartphones to data centres and fighter jets, wh politics get in way of prosperity. No prize for guessing right who will be eventual winner .....
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

China auto market faces slowdown as inventory builds - CMBISHANGHAI : Automakers in China delivered a record number of cars to dealers in the first nine months of the year even as retail demand slowed, setting up the market for a slowdown in 2023, a leading Chinese brokerage said on Wednesday.Automakers had delivered 1 million vehicles to dealers in China over th
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Taiwan and US tensions with China pose 'serious' challenges for chip industry: TSMCTaiwan is a major producer of chips used in everything from cars and smartphones to data centres and fighter jets. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »