Hangzhou Binjiang Real Estate Group Co Ltd

On 29 September, the real estate sector was active again. China Vanke A surged to its daily limit in early trading, quickly broke the limit, then re-sealed it in the afternoon. Shenzhen Properties A posted a second consecutive limit-up, while Binjiang Group, Cinda Real Estate and Hualian Holdings also hit their daily limits. On the same day, the three major indices fluctuated higher in late trading before falling back again. The Shanghai Composite Index rose 0.18%, the Shenzhen Component Index rose 0.34%, and the ChiNext Index rose 0.09%. Combined turnover on the Shanghai and Shenzhen bourses reached 1.41 trillion yuan, hitting a new low for the year and shrinking by 293.6 billion yuan from the previous trading day. More than 3,400 stocks across the market advanced. On the news front, the State Council executive meeting was held on 28 September. The meeting pointed out the need to strengthen counter-cyclical macro policy adjustment, accelerate the issuance and use of various bonds, promote the early start of major engineering projects, and study the introduction of policy measures to stabilise the real estate market and boost employment and incomes. On the same day, four departments including the Shanghai Municipal Commission of Housing and Urban-Rural Development and Management jointly issued implementation opinions, proposing policy measures in six areas: strengthening pre-sale management, implementing sales of completed homes, promoting a lead bank system, increasing financing support, and optimising land supply management.