Breaking News The central government publication *Qiushi* has released an article emphasizing that real estate policies should align with market expectations, and the policies should be implemented in full at once, avoiding a "drip-feed approach." In the first issue of *Qiushi* for 2026, a special commentator article titled "Improving and Stabilizing Real Estate Market Expectations" was published. The article points out that China's real estate market is undergoing a deep adjustment. As urbanization shifts from a rapid growth phase to a stable development phase, and urban development transitions from large-scale incremental expansion to a focus on improving the quality and efficiency of existing assets, the traditional real estate development model has reached its end. The article states that, based on these new changes, some believe the importance of real estate in the national economy has declined. However, "this view is biased," as real estate "remains a foundational industry supporting the national economy," and its "transformation and development potential is still very broad." The article calls for maintaining policy strength. In terms of policy expectations, the strength of policies should meet market expectations, and policies should be implemented in full at once, avoiding a drip-feed approach that could lead to a tug-of-war between the market and policies. On the supply side, strict control over new supply, revitalization of existing stock, and encouragement of acquiring existing housing stock for reasonable purposes such as affordable housing are recommended. Additionally, the construction of "quality housing" should be promoted in an orderly manner. The article also emphasizes strengthening information and public opinion guidance. Beyond prices, key indicators and events that directly impact social expectations—such as real estate investment, the number of foreclosed properties, bankruptcies or debt restructuring of real estate companies—should be closely monitored. "For the release of sensitive indicators, expert interpretation should be provided."