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Opinion
China set to double down on property market stability
As property curbs to boost spending hit practical limits, a push to stabilise assets is now being seen as a prerequisite for consumer confidence
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Michael Han is assistant president and Shanghai general manager at Yuepu Technology Group.
For years, Beijing attempted to trade flats for microchips, a bold effort to rewire the economy. But 2025 showed that a hi-tech superstructure cannot be built on the crumbling foundation of a middle-class balance sheet. Now, in the opening 2026 issue of Qiushi, the Communist Party’s most influential journal, a new signal has emerged, indicating that the leadership is prepared to halt the decline.
A key commentary in the journal presents a notable analytical shift. It reaffirms real estate as a foundational industry of the national economy and a primary store of household wealth, while emphasising its significant characteristics as a financial asset. Beyond acknowledging the fundamental changes in supply and demand, the article concedes that restoring confidence will be a gradual process. Consequently, it advocates all-out policy implementation, rejecting the piecemeal approaches of the past to stabilise expectations.
This marks a strategic departure from the rhetoric of the last five years. It suggests the policy pendulum, which had swung decisively towards cost containment, is recalibrating towards asset stability.
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