Some Real Estate Stocks Jumped in Market Trading; Country Garden Rose 22%; Sunac Rose 12%

Tiger Newspress

May 29

Some real estate stocks jumped in market trading on May 29. COUNTRY GARDEN rose 22%; SUNAC rose 12%; CHINA VANKE rose 10%; C&D INTL GROUP rose 9%; SINO-OCEAN GP rose 8%.

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.

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COUNTRY GARDEN rose 22%;  SUNAC rose 12%;  CHINA VANKE rose 10%;  C&D INTL GROUP rose 9%;  SINO-OCEAN GP rose 8%.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. 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