STORY: Chinese property stocks and bonds soared on Monday (November 14), as markets cheered Beijing's support measures for the struggling sector.
The Hang Seng Properties Index jumped more than 13.5% to close at a two-month high.
While the share price of many Chinese property developers saw double-digit gains.
Analysts have called the reported support package a 'turning point'.
One market specialist estimated that, along with other recent movies, it could inject around $183 billion in credit into the property sector.
Sources said it laid out multiple financing measures for an industry hit hard by cashflow problems.
Two told Reuters Sunday (November 13) that the People's Bank of China and the country's Banking Regulatory Commission had produced 16 steps to support the sector.
That included loan repayment extensions.
Neither the Bank nor the regulator responded to a request for comment.
China's property sector is a key part of the world's second-largest economy.
But it has faced defaults and stalled projects, which have hit market confidence and hurt growth.
Citi said the package signals a big shift in regulators' policy stance on developers.
It said they have moved from "imposing restrictions" to "providing support".