China Builders Soar on Land Rules Seen to Favor Big Players
- A gauge of 33 major developers jumped the most since 2015
- Two Chinese cities announced centralized land bidding rules
Construction of residential buildings in Qingdao.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Shares of Chinese developers soared after at least two cities released new land sales rules that may benefit leading property players.
A gauge of 33 major Chinese builders, mostly listed in Hong Kong, jumped as much as 9.5% Thursday, the most since 2015, according to data compiled by Bloomberg. China Vanke Co.’s Hong Kong-listed shares surged as much as 17%, the biggest jump since its 2014 listing. China Resources Land Ltd., China Overseas Land & Investment Ltd. and Country Garden Holdings Co., among the nation’s 10 biggest developers, were the best-performing constituents of the benchmark Hang Seng Index.