Economics
Chinese Stocks Rise the Most in Four Months on Bank Funds
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China’s stocks rallied, sending the benchmark index to its biggest gain in four months, amid speculation the government is loosening funding restrictions for property developers and banks to support economic growth.
Shanghai Pudong Development Bank Co. and Industrial Bank Co. both surged at least 6.6 percent. The China Securities Regulatory Commission said after exchanges closed that lenders can issue preferred shares. China Vanke Co. and Poly Real Estate Group Co. jumped more than 6 percent after the Shanghai Securities News reported regulators are reviewing financing applications from “many” listed developers.