Shares of Hong Kong-listed Chinese property developer Sunac soared by 10.68% on Monday, as China unveiled a series of stimulus measures aimed at reviving the sluggish real estate sector and bolstering economic growth.

In a bid to boost the struggling property market, China's central bank announced a slew of supportive policies, including cutting the reserve requirement ratio for banks by 50 basis points and further reducing key interest rates. Additionally, the government mandated that existing mortgage rates be slashed by 0.5 percentage points.

These measures are expected to provide much-needed relief to the embattled property sector, which has been grappling with a debt crisis and slumping demand. The stimulus efforts are aimed at revitalizing the real estate industry, a crucial driver of China's economic growth.