HK Stock Market Move | The domestic property stocks continue to rebound as new policies reshape the real estate development model. Local pilot detailed rules are expected to be released within four to six weeks.

Chinese property stocks continue to rebound. As of the time of writing, LONGFOR GROUP (00960) is up 7.88%, trading at HKD 6.295; CHINA VANKE (02202) is up 5.94%, at HKD 2.495; SUNAC (01918) is up 5.36%, at HKD 0.59; SEAZEN (01030) is up 3.82%, at HKD 1.495. In terms of news, on August 28, five major ministries, including the Ministry of Housing and Urban-Rural Development, the Ministry of Natural Resources, the People's Bank of China, the Financial Regulatory Bureau, and the China Securities Regulatory Commission, simultaneously released eight real estate documents, forming a complete system consisting of "three foundational documents + five supporting measures." China Securities Co., Ltd. pointed out that the new real estate policy introduced on "828" is not a demand-side stimulus or market rescue, but rather a systematic institutional reconstruction aimed at optimizing the new development model of real estate through mechanisms such as the sale of existing homes, project company systems, sponsoring banks, and the personal housing loan system. CMB International released a research report stating that industry experts believe the real estate policies announced on August 28 are part of long-term institutional reform rather than regulatory tightening. The policy language retains ample flexibility and is non-mandatory, providing sufficient buffer space and transition periods. Local implementation details and pilot rules are expected to be gradually released within 4 to 6 weeks. The report emphasized the need to pay attention to urban policy boundaries, unified land transfer terms, completion filing and disbursement buffers, details of the deposit system, phased land pricing, identification standards, and adjustments to land supply rhythms.