Shares of Chinese property developer SUNAC surged over 6% on Thursday, after a report suggested that regulators in China are considering easing restrictions for non-local homebuyers in major cities like Shanghai and Beijing.

According to a report by Bloomberg News, Chinese regulators are working on a proposal that would allow mega cities to relax curbs on home purchases by non-residents. This potential move is seen as a boost for the country's struggling real estate sector, which has been grappling with slowing sales and mounting debt levels.

The potential easing of home-buying restrictions could help revive demand for new homes, especially in major cities where property prices remain elevated. SUNAC, as one of China's leading developers, is expected to benefit from any measures that aid the recovery of the housing market.