The Hang Seng Mainland Properties Index surged almost 18% after the Ministry of Finance said it is the wrong time to expand property tax trials.

The magnitude 7.4 quake revived memories of the March 11, 2011 quake and tsunami off Fukushima - commemorated across the country less than a week ago

China Construction Bank, the underwriter, said in a statement on Wednesday Yango did not pay the principal and interest in full on the due date

Implementation of a property tax involves challenges, including macroeconomic pressures, according to analysts

Earlier this week, the parties had informed the apex court that talks for an amicable settlement of the dispute had made no headway

The country's third-largest property developer by sales previously said it had prepared sufficient funding to repurchase the bond

The use of government-backed credit support rather than the purchase of fire-sale assets is becoming the preferred policy option for reducing risk in Chinese real estate sector

From a year earlier, new home prices rose 2.0%, the slowest pace since December 2015, and also easing from the 2.3% growth in January

China stocks slumped to 21-month lows, while mainland firms listed in Hong Kong sank to levels not seen since 2008.

Chinese state-owned firms are expected to buy more assets from cash-strapped private developers, analysts said, as Beijing steps up efforts to stabilise a crisis-hit sector

Rebound was helped by the easing of property curbs to relieve a liquidity crisis faced by developers and stoke buying interest

Total value of the nation’s 10.8 million homes grew by $2 trillion to a record $9.9 trillion last year, according to the Australian Bureau of Statistics’ residential property prices index report