Shares of Chinese property firms surged Monday after a series of supportive policy announcements as regulators stepped up efforts to curb turmoil in the property sector that has weighed on the world’s second-largest economy.

The Hong Kong-listed shares of Country Garden’s services arm rose as much as 14% in morning trading, while its listed parent and Longfor Properties were up 6% and 7% respectively. Hong Kong’s Hang Seng Mainland Property Index rose 5.4% at noon.

Policy makers have accelerated tweaks in recent weeks to stabilize a slump in the housing market, including allowing developers to complete unfinished homes that sparked a nationwide mortgage boycott. including the initiation of relief funds and special loans to help with

The People’s Bank of China announced on Friday that it will cut interest rates on housing provident fund loans by 0.15 percentage points for homebuyers for the first time from October. According to the PBoC statement, the years of borrowing from the government’s housing provident fund will be reduced to 3.1% for him.

The Treasury Department also announced a rare tax incentive for homebuyers on Friday. This allows an individual who purchases a new home within one year of selling his previous home to receive an income tax refund. This is a move aimed at encouraging people to buy real estate.

On Thursday, banking and insurance regulators and the PBoC eased the floor on mortgage rates for some first-time buyers. In some cities, banks have removed floors on mortgage rates, allowing them to offer cheaper loans to support demand based on their own profitability terms.

“Three measures . . . Yan Yuejin, research director of the E-house China Research and Development Institute, said: will help.”

But investors have lost confidence in the financial health of Chinese developers who failed to meet their obligations to repay both dollars and renminbi. After defaulting last year, Evergrande, the world’s most indebted property developer, has pledged to restart all stalled projects by the end of September.

Policy makers are increasingly supportive of homebuyers, but market uncertainty is exacerbated by the lack of clarity about what real estate companies will do next.

Hong Kong shares of CIFI Holdings fell to record lows last week after the company’s chairman predicted an “unprecedented” liquidity stress was coming.

Video: Evergrande: The End of China’s Real Estate Boom

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