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  • China’s tier-one cities are enjoying a ‘mini boom’, raising hopes that the end of the property downturn is in sight.
  • But national housing inventories still have almost a year to go before they reach a sustainable level.
  • Cities are finding new ways to unlock genuine demand, though developer funding is still under pressure.

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Keywords for: 20 May 2026 China+ Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence