Shares of Chinese property developer Sunac surged 14.56% on Monday, as China rolled out a series of stimulus measures aimed at reviving the struggling real estate sector and bolstering economic growth.

In a coordinated effort to support the embattled property market, China's central bank announced several supportive policies, including cutting the reserve requirement ratio for banks by 50 basis points, further reducing key interest rates, and mandating that existing mortgage rates be slashed by 0.5 percentage points.

These measures, unveiled during a joint press conference on Tuesday, are expected to provide much-needed relief to the property sector, which has been grappling with a debt crisis and slumping demand. By lowering borrowing costs and stimulating housing demand, the stimulus efforts are aimed at revitalizing the real estate industry, a crucial driver of China's economic growth.