Shares of MIDEA REAL EST, a prominent Chinese property developer, surged by an impressive 11.38% on Thursday, as investors reacted positively to reports of potential regulatory changes that could revive the sluggish real estate sector in China.
According to Bloomberg News, Chinese regulators are working on a proposal to relax home buying restrictions for non-local buyers in major cities like Shanghai and Beijing. If implemented, this measure could significantly boost demand for residential properties and provide a much-needed boost to the struggling real estate market.
The news sparked a broad rally in the shares of Chinese property developers, with MIDEA REAL EST leading the charge. Longfor Group, China Vanke, and Sunac also witnessed substantial gains, reflecting the market's optimism about the potential policy change and its positive impact on the industry.
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