Real Estate Projects in Yantai, Shandong, China on January 5, 2026.Cfoto | Future Publishing | Getty ImagesBEIJING — Chinese policymakers may be finally warming to the idea of tackling the country’s worsening real estate slump, raising expectations that stronger support measures could be coming later this year.The Communist Party’s official journal Qiushi, which means “seeking truth,” kicked off 2026 with a Jan. 1 article calling for “more powerful and precise measures” to stabilize property market expectations. Since then, the Hang Seng China A Properties Index, which includes developers Vanke and Seazen, has climbed more than 6% to start the year, reflecting growing investor optimism.The Qiushi commentary was notable for its scope, said Ting Lu, chief China economist at Nomura.”This is the most comprehensive assessment of China’s property markets published in Qiushi since the sector’s collapse in mid-2021,” Ting said in a report earlier this week. “Its significance should not be overlooked.”Public Chinese official commentary, such as Qiushi articles, is closely watched because it often signals internal policy debates and potential shifts in official thinking before decisions are announced.The article appeared ahead of China’s annual parliamentary meeting in March, when top leaders gather to set policy goals for the year ahead. This year, the meeting will also release full details on its next five-year development plan.”Beijing cannot afford to let its property sector slide indefinitely, and much more decisive action is needed to truly stabilize the property sector and the overall economy,” Lu said.”Given rising trade tensions and the likely unsustainable strength in the export sector, Beijing might eventually be compelled to ramp up its policy measures significantly.”China’s property downturn has dragged on despite a clear call from top leaders in Sept. 2024 to halt the sector’s decline. New home sales have nearly halved since Beijing started cracking down on developers’ heavy reliance on debt for growth, with floor space sold in 2025 falling to levels seen back in 2009, according to a report this week by the China Real Estate Information Corp. Measures introduced so far have focused on easing some restrictions on buyers, originally intended to stem speculation.The Qiushi article called for property policies to be implemented “in one go,” rather than a “piecemeal approach.” Cliff Zhao, chief economist at China Construction Bank International, agreed. Policy does need to be more assertive, while targeted support for larger cities could go a long way without too much cost, he said.He added that details are likely to only emerge at the parliamentary meeting in March or at later high-level meetings focused on urban development.Rejecting a current view on real estateWhile official language has often framed the real estate slump as merely a “period of adjustment,” the Qiushi article made a direct call for urgency, saying policymakers must “shorten the adjustment period as much as possible,” according to a C …
