Developers: China Vanke Co. (000002) (000002 CH), the nation’s biggest developer, gained 0.7 percent to 9.80 yuan. Poly Real Estate Group Co. (600048 CH), the second biggest, climbed 0.9 percent to 12.38 yuan. China Merchants Property Development Co. (000024) (000024 CH), the third largest, added 2.1 percent to 25.80 yuan.
Shenzhen may allow individuals to take loans against money in their public housing funds to buy first homes, according to a proposal posted on the Shenzhen Housing Provident Fund Management Center’s website yesterday. Individuals contribute money from salaries to their housing provident funds, which are held by the city.
Railway-related stocks: China Railway Construction Corp. (601186 CH), builder of more than half the nation’s rail links since 1949, added 3.1 percent to 4.65 yuan. China Railway Group Ltd. (601390) (601390 CH), the largest construction company by total assets, climbed 2.3 percent to 2.62 yuan. CSR Corp. (601766) (601766 CH), the biggest train maker, gained 1.2 percent to 4.35 yuan.
A document posted on the website of the National Development and Reform Commission’s Anhui branch indicates that the government increased its railway investment plan for the year by 9 percent from the previous 411.3 billion yuan ($64.5 billion). It cited the railways ministry for the information.
--Zhang Shidong. Editor: Allen Wan
To contact Bloomberg News staff for this story: Zhang Shidong in Shanghai at firstname.lastname@example.org
To contact the editor responsible for this story: Darren Boey at email@example.com