China’s crackdown on the real estate market may trigger an estimated 400bn yuan ($58.6bn) to flow out of property and into equities, according to the nation’s largest brokerage.

The funds may be diverted into consumer-related stocks with small capitalizations and companies that may benefit from increased government spending in poorer regions, analysts led by Yu Jun at Beijing-based Citic Securities Co. said in a report.

“The recent measures introduced by the government on property are just the beginning,” wrote Yu. “The crackdown will prompt large pools of funds to enter the stock market.”