China and Hong Kong stocks rose on Monday as China"s top leaders vowed to prioritise economic stability in 2022, fuelling hopes for more stimulus to aid a slowing economy. ** China will cut tax and fees, front-load infrastructure investment, and step up cross-cyclical policy adjustments next year to keep growth within a reasonable range, senior policymakers said in a statement after holding the annual Central Economic Work Conference from Dec. 8-10. ** China"s blue-chip CSI300 index (.CSI300) rose 1.3%, to 5,121.25 points by the lunch break, while the Shanghai Composite Index (.SSEC) gained 1%, to 3,702.88 points. ** The Hang Seng index (.HSI) added 1%, while the Hong Kong China Enterprises Index (.HSCE) gained 0.9%. ** The agenda-setting meeting "leaves little doubt that policy support is being stepped up," Mark Williams, chief Asia economist at Capital Economics, wrote. ** Infrastructure stocks (.CSI000950) jumped more than 3% in China, on bets of more aggressive fiscal policies to speed up building roads, railways and data centres. ** "We believe the government will soon bring forward some new quotas of special local government bonds," ANZ economists wrote. ** "Furthermore, Chinese authorities will likely stabilise fixed-asset investment amid the weakness in the property sector." ** But real estate stocks in China (.CSI000952) and Hong Kong (.HSCIPC) fell, as policymakers reiterated that "housing is for living, not for speculation". ** "It"s not a 180-degree change of Beijing"s property curbs yet, and it"s hard for Beijing to make such a turnabout," Nomura"s chief China economist Lu Ting said. ** Also bucking the broader trend, China-listed tourism (.CSI930633) and transport (.CSI000957) stocks fell, amid worries over a new COVID-19 outbreak in eastern Zhejiang province. ** More than a dozen Chinese-listed companies said they had suspended production in coronavirus-hit parts of Zhejiang in response to local government"s tightened COVID-19 curbs, causing their share prices to plunge. read more Reporting by Shanghai Newsroom; Editing by Subhranshu Sahu Our Standards: The Thomson Reuters Trust Principles.