(Bloomberg) -- Trading in shares of China Vanke Co. has surged to the highest level in four years as China’s housing rescue package and nearly $4 billion of funding secured by the property firm this month spur bets on its survival.

Turnover in Vanke’s onshore-listed stock reached a total of 24.8 billion yuan ($3.4 billion) over Monday through Thursday, on track for the highest weekly level since mid-2020. It was the most-traded stock in Shanghai and Shenzhen for each of those days and should remain active Friday after the firm secured syndicated loans, helping ease concerns about an imminent cash crunch.

Bulls are making haste to pile in after a series of measures announced by authorities to bolster the property sector, including $42 billion of central bank funding for governments to buy up unsold homes. Cheap valuations have added to the allure, with the stock still trading at less than 0.5 times book value despite its 46% rebound from a low last month.

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