BEIJING, May 24 (Xinhua) -- Chinese equities rallied for the second consecutive trading day on Monday, and most stocks rose led by property shares as concerns over tougher measures on the property market eased.

The benchmark Shanghai Composite Index rose 3.48 percent to close at 2,673.42 points.

The Shenzhen Component Index gained 4.03 percent to 10,620.13 at the close.

Total turnover climbed to 222.12 billion yuan (32.53 billion U.S. dollars) from 156.19 billion yuan on the previous trading day.

Gainers outnumbered losers by 884 to 1 in Shanghai and by 944 to 2 in Shenzhen.

Property shares staged strong growth after the China Times newspaper reported that an official from the country's top economic planning body said that the the government would not impose a property tax within the next three years.

China Vanke Co., the country's largest listed property developer by market value rose 4.19 percent to 7.70 yuan. Gemdale Corporation grew 6.94 percent to 7.09 yuan.

Xinjiang-related shares continued to gain from the government plans to boost regional economic development unveiled last Wednesday.

Xinjiang Beixin Road and Bridge Construction Co. rose by the daily limit of 10 percent to end at 26.66 yuan. Xinjiang Urban Construction (Group) Co. closed at 14.00 yuan, an increase of daily limit.