Shares of Longfor Group, one of China's leading property developers, surged by a staggering 12.95% on Wednesday, fueled by speculation that the government and central bank will unveil new measures to boost the struggling housing sector at a highly anticipated joint briefing scheduled for Thursday.

The rally in Longfor Group's stock was part of a broader surge in Chinese property-developer stocks, as investors pinned their hopes on the upcoming briefing involving officials from the Housing Ministry, the People's Bank of China, the Finance Ministry, and the National Financial Regulatory Administration. A Bloomberg gauge tracking developer shares soared as much as 8.3%, reversing a decline of nearly 7% the previous day.

Analysts suggest that the briefing may focus on expanding the "white list" of residential projects eligible for financial support, accelerating local governments' purchase of unsold homes for affordable housing, and reviving the land market. The white list is a collection of residential projects deemed suitable for financial support from the authorities.