JD.Com Inc (NASDAQ:JD) shares are trading higher by 3.7% to $30.92 Friday morning. U.S.-listed Chinese stocks are trading higher during Friday’s session amid renewed hopes of economic growth in the region.
Per a report by Bloomberg, China is in the process of implementing a new property policy within a test city being developed under the leadership of President Xi Jinping, situated on the outskirts of Beijing.
This strategic initiative seeks to provide stability to a housing market that has been rattled by the continuing challenges posed by a credit crisis.
In recent months, China has implemented a series of targeted stimulus measures aimed at revitalizing the sluggish real estate sector, amid growing concerns of potential default by one of the country’s prominent property developers.
See Also: Why Alibaba Stock Is Trading Higher On Friday?
According to data from Benzinga Pro, JD.Com has a 52-week high of $67.10 and a 52-week low of $29.51.
