<bean id="A">
    <property name="B">
      <list>
        <value>C</value>
        <value>D</value>
      </list>
    </property>
  </bean>

declare default element namespace "http://www.springframework.org/schema/beans";

for $x in doc('beans.xml')//beans
  let $prop:= $x/bean[@id='A']/property[@name='B']
  
  return (
    for $v in $prop/list/value
    return (
      replace value of node $v
      with replace($v, 'D', 'E')
    )
  )