On May 29, Country Garden surged 19.62% in regular trading, trading at HK$0.25/share, with trading volume of HK$584 million. The stock was reported to have risen as much as nearly 40% during the session before paring some gains.

On the news front, the State Council issued the Urban Renewal 15th Five-Year Plan, providing a strong policy catalyst for the real estate sector. The plan proposes comprehensively surveying urban existing asset resources, promoting classified disposal of supplied but undeveloped land and under-construction projects, and revitalizing idle and inefficient old factories, commercial office buildings, commodity housing, and public housing. Critically, the plan calls for accelerating the construction of a new development model for real estate, improving basic systems for commercial housing development, financing, and sales, and promoting real estate developers to transform and participate in urban renewal.

The broader real estate sector rallied sharply in response, with Sunac China up 12.36%, China Vanke up 10.24%, China Resources Land up 2.78%, China Overseas up 1.85%, and Radiance Holdings up 1.68%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)