The housing ministry in China will give a presentation on their plans to strengthen the real estate market.

• The State Council Information Office announced that China's housing minister will hold a press conference at 10 a.m. local time to discuss promoting the stable and healthy development of the property market.
• The minister of housing and urban-rural development of China, Ni Hong, is predicted to deliver a speech at the event alongside officials from the central bank, finance ministry, and the National Financial Regulatory Administration.
• Recent policy announcements have signaled to investors that the Chinese government is taking action to boost a slowing economy.

The State Council Information Office announced that China's housing minister will hold a press conference to discuss promoting the stable and healthy development of the property market.

The briefing will commence at 10 a.m. local time, with Ni Hong, China's minister of housing and urban-rural development, joining officials from the central bank, Ministry of Finance, and the National Financial Regulatory Administration in speaking.

Beijing is signaling its intention to stimulate slowing economic growth and its struggling property sector through recent stimulus announcements, marking the latest in a series of high-level economic policy briefings that began in late September.

Officials from China's Ministry of Finance declared that local governments can issue more special bonds for purchasing land and that affordable housing subsidies can be utilized for existing housing inventory, rather than just new construction, over the weekend.

On Monday, Chinese property stocks surged due to news, with the Hang Seng Mainland Properties Index increasing by over 2%. Real estate was also the top performer in Mainland China's CSI 300, rising by nearly 5%. Despite losing more than 80% from its peak in January 2020, the HSMPI rebounded strongly.

As investors differed in their views on the government's ability to stimulate the economy, Chinese stocks fluctuated throughout the week. However, the market experienced a rally prior to Thursday's press conference, suggesting optimism that China would soon announce concrete stimulus measures.

JLL's Greater China chief economist and head of research, Bruce Pang, stated that he did not anticipate a policy surprise from Thursday's briefing.

The property sector is expected to be a stabilizer rather than a driver or dragger of economic growth, according to policymakers.

The People Bank of China governor, Pan Gongsheng, announced a 50 basis-point reduction in the reserve requirement ratio (RRR) in late September, which is the amount of cash banks must keep on hand. Additionally, he lowered the minimum down payment for second-home loans nationwide from 25 percent to 15 percent.

In a meeting led by Chinese president Xi Jinping, officials vowed to stop the real estate market downturn and promote a steady revival.

— CNBC's Evelyn Cheng contributed to this story.

This is a developing story. Please check back later for updates.