BEIJING — Chinese policymakers appear to be considering more robust measures to address the ongoing decline in the country's real estate market. This shift in stance raises expectations that more substantial support could be introduced later this year.
The official journal of the Communist Party, Qiushi, meaning "seeking truth," published an article on January 1st, 2026, advocating for "more powerful and precise measures" to stabilize the property market. Since the publication, the Hang Seng China A Properties Index, which features developers like Vanke and Seazen, has increased by over 6%, reflecting a rise in investor confidence.
Ting Lu, chief China economist at Nomura, highlighted the article's comprehensive assessment, stating, "This is the most thorough evaluation of China's property market published in Qiushi since the sector's collapse in mid-2021. Its importance should not be underestimated."
Public commentaries from Chinese officials, such as those in Qiushi, are closely monitored as they often indicate internal policy discussions and potential policy shifts prior to public announcements.
The article precedes China's annual parliamentary meeting in March, where top leaders define policy objectives for the year. This meeting will also unveil details of the upcoming five-year development plan.
Lu noted, "Beijing cannot allow its property sector to continue deteriorating indefinitely. Substantially more decisive action is essential to genuinely stabilize both the property market and the broader economy. Given the rising trade tensions and likely unsustainable strength in the export sector, Beijing might be compelled to significantly intensify its policy initiatives."
The downturn in China's property market has persisted despite a clear directive from top leaders in September 2024 to stop the sector's decline. New home sales have nearly halved as a result of Beijing's crackdown on developers' heavy reliance on debt, with 2025 floor space sales dropping to levels observed in 2009, according to a report from the China Real Estate Information Corp.