https://www.scmp.com/business/china-business/article/3264344/hong...

https://www.scmp.com/business/china...chip-fund?module=top_story&pgtype=section



Hong Kong stocks extend gains, cheered by Shanghai’s property easing, China’s US$47.5 billion chip fund

• Shanghai will cut the down-payment ratio, the mortgage rates, while offering subsidies to homebuyers and allowing multi-children families to purchase one more home
• SMIC and Hua Hong Semiconductors shares jump after Beijing unveiled a US$47.5 billion investment plan towards achieving self-sufficiency in the chip sector
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• Shanghai, China’s biggest commercial city, will cut the down-payment ratio, the mortgage rates, while offering subsidies to homebuyers and allowing multi-children families to purchase one more home starting Tuesday, the city’s government said on Monday. It became the first tier-one city to roll out easing measures after China unveiled a sweeping rescue plan for the property market earlier this month.
  
  China Vanke added 1.3 per cent to HK$6.20 after the debt-stricken Chinese property developer sold an unfinished project for 2.24 billion yuan ($309 million) and injected much-needed liquidity into its operations.