A-share property services and developers surged, with multiple stocks hitting
daily limit-up including Tefa Service, Financial Street, Xiangjiang Holdings, Yu
Development, Zhongjiao Development and Tianbao Infrastructure. The PBOC and the
National Financial Regulatory Administration issued guidance reforming
real-estate credit management, capping individual housing loan terms at a
maximum of 40 years and requiring loan amounts not to exceed the property's
appraised value.