Economist Fan Gang said China’s property market has entered a relatively rapid
price-clearing phase and the bottoming process could be faster than Japan’s at
the time. He said China is undergoing a more market-driven structural adjustment
as long-standing supply-heavy, weak-demand imbalances start to correct. The 15th
Five-Year Plan now treats market demand as the scarcest resource, and
consumption patterns are shifting: younger, tech-affluent buyers increasingly
Prioritize housing quality, with luxury homes in major cities becoming a sales
driver—signalling a move toward a more market-oriented growth dynamic.
