The move is aimed at helping companies better manage their debts and protect investors' interests, the National Association of Financial Market Institutional Investors said

Struggling developer, which has $300 billion in liabilities, is offering special discounts with a target of 1-billion yuan in sales in upcoming holiday break

The Hang Seng Mainland Properties Index rose 3%, versus a 0.3% loss for the main Hang Seng Index

Outlook for China's developers appears bleak amid looming debt maturities. falling home sales and uncertainty over a proposed property tax