China's A-share real estate sector extended its dramatic rally into a second consecutive session on August 13, 2026, with Beijing Infrastructure Investment Development (Jingtou Fazhan) achieving its fourth consecutive daily limit-up while Xiangjiang Holdings and other developer stocks continued their remarkable upward runs.
Sustained Momentum After Historic Session
On August 12, nearly ten property developer stocks hit their daily price limit — one of the strongest single-day performances for the sector in recent memory — with Jingtou Fazhan locking in its third consecutive limit-up and Xiangjiang Holdings more than doubling over the past month to its highest level since December 2015. The follow-through buying on August 13 confirmed that institutional and retail investors alike view the policy environment as durably supportive of the sector's near-term outlook.
Xiangjiang Holdings continued its extraordinary run, climbing further on August 13 as momentum-driven trading overwhelmed any fundamental valuation framework. Market observers noted the stock's surge reflects both genuine policy optimism and speculative interest that typically accompanies sector rotations in China's A-share market.
Policy Catalyst Underpins Confidence
The sustained rally is grounded in concrete policy developments: the Politburo's July meeting reaffirmed real estate market stabilization as a key priority, Beijing reduced social insurance requirements for non-local home buyers effective August 8, and the PBOC's Q2 report pledged continued moderately loose monetary conditions with ample liquidity. These measures collectively address both demand-side psychology and funding conditions for developers.
August transaction data from major cities — Beijing, Hangzhou, and Shenzhen all posting year-on-year growth in online contract signings — provides fundamental support for the sector's improved sentiment. When combined with the strong developer land acquisition activity in Beijing, Shanghai, and Chengdu, the case for a constructive medium-term outlook on China's core urban housing markets appears increasingly credible.