Within three days of the May Day holiday, a total of 980 new flats exchanged hands in Nanjing, capital of Jiangsu province. Three major property developers in Jiangsu, Xincheng Real Estate, Xixia Construction and Suning Global were said to have done so well over the past four months that their shares have soared. Shares in Suning Global alone rose by more than 20 per cent over a six-day period in late April/early May.

As property sales rise, the three companies have restarted expansion strategies, by buying new land, raising sale prices and starting new building projects.