Shares in Chinese property developers surged at the open of trading on Monday, with several names locking in their daily price limit in the first minutes of the session.

The rally followed a joint circular from the People's Bank of China (PBOC) and the National Financial Regulatory Administration on reforming real-estate credit management to accelerate the building of a new development model for the property sector. Among the headline measures, the maximum term for individual housing loans has been extended to 40 years, up from the previous 30-year cap.

The longer amortization period is expected to ease monthly repayment pressure on homebuyers and support demand, a key target as policymakers seek to stabilize the housing market and restore confidence in the sector.

Analysts said the move signals continued policy support for the property industry, though they cautioned that sustained recovery will also depend on broader improvements in household income and buyer sentiment.