The Zhitong Finance app learned that Country Garden (02007) surged more than 30% in early trading. As of press release, it rose 25.69% to HK$1881, with a turnover of HK$1.2 billion.

According to the news, Country Garden decided to withdraw its rating after friendly negotiations with S&P. Country Garden said in this regard that there are currently no major changes in the company's fundamentals, sales indicators are steady and improving, and thanks to the support and recognition of the company from financial institutions, the company completed refinancing in the domestic capital market in September. The cost is the lowest in the market. The withdrawal of this rating will not trigger accelerated settlement terms for the company's stock debt, and will not adversely affect the company's solvency and financing capacity.

Furthermore, on November 8, the Dealers Association's official website announced that it will continue to promote and expand private enterprise bond financing support tools. CICC said that although this tool is not only aimed at real estate companies, the policy directly clearly proposes that it can support real estate companies' financing, adds a new execution method for “direct purchase of bonds,” and proposes a potential scale of 250 billion yuan. The intentions and goals are relatively clear.