JPMorgan has released a research report indicating that China's property sector rose another 5% on May 6, following robust Golden Week data, continuing the strong performance observed since early April. The bank believes that if solid data persists through the month, the sector is expected to continue outperforming the broader market. Even after a cumulative 22% increase in share prices, there remains approximately 20% in targeted returns, which would bring the sector back to its October 2024 highs. Should the positive data extend into July and August, an additional surge of over 30% could occur. According to the report, citing Iceberg index data, real-time secondary market transactions during the holiday period increased by 31% year-on-year, continuing the 29% year-on-year growth seen in April. In the primary market, most state-owned developers indicated flat year-on-year performance. The bank's top stock picks are CHINA OVERSEAS (00688), CHINA RES LAND (01109), and CHINA JINMAO (00817).