https://www.scmp.com/rss/525121/feed Michael Han is assistant president and Shanghai general manager at Yuepu Technology Group. A Fudan finance EMBA mentor and financial columnist, he previously oversaw landmark project expansions at Sun Hung Kai Properties and directed the operations of 230-plus shopping centres at Wanda Group, establishing profound expertise spanning asset management, capital markets and policy application. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Michael Han Michael Han When it comes to Chinese policy, what section of the work report it ends up in can say more than the policy itself. At the National People’s Congress, the most significant signal was not headline-grabbing stimulus but a quiet re-categorisation. Property policies have yet again been relegated to the risk prevention section in the government work report. This shift confirms that Beijing has fundamentally reappraised the sector. For global investors, the absence of a property stimulus bazooka was a... https://www.scmp.com/opinion/china-opinion/article/3347753/chinas-property-pivot-growth-engine-protected-household-asset?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3347753/chinas-property-pivot-growth-engine-protected-household-asset?utm_source=rss_feed Sun, 29 Mar 2026 01:30:09 +0000 Michael Han Michael Han For five years, China’s real estate sector has been defined by a punishing narrative of default and contraction. This era of discipline reached a pivotal threshold when China Vanke, the industry’s bellwether, recorded an 82 billion yuan (US$11.8 billion) loss. Crucially, this disclosure arrived only a few days after a strategic injection from its largest shareholder, Shenzhen Metro Group. The timing of the 2.36 billion yuan lifeline was a deliberate signal. By restoring ties right before the... https://www.scmp.com/opinion/china-opinion/article/3342182/chinas-real-estate-rethink-can-help-end-developers-debt-addiction?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3342182/chinas-real-estate-rethink-can-help-end-developers-debt-addiction?utm_source=rss_feed Wed, 04 Feb 2026 08:30:39 +0000 Michael Han Michael Han For years, Beijing attempted to trade flats for microchips, a bold effort to rewire the economy. But 2025 showed that a hi-tech superstructure cannot be built on the crumbling foundation of a middle-class balance sheet. Now, in the opening 2026 issue of Qiushi, the Communist Party’s most influential journal, a new signal has emerged, indicating that the leadership is prepared to halt the decline. A key commentary in the journal presents a notable analytical shift. It reaffirms real estate as a... https://www.scmp.com/opinion/china-opinion/article/3339640/china-set-double-down-property-market-stability?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3339640/china-set-double-down-property-market-stability?utm_source=rss_feed Wed, 14 Jan 2026 08:30:15 +0000 Michael Han Michael Han For years, China Vanke was the property industry’s model pupil: prudent, reliable and seemingly immune to the reckless borrowing that felled its peers. That reputation evaporated in a matter of weeks. On the night of November 26, Vanke announced that it would convene a bondholder meeting to discuss maturity extensions. This move was immediately interpreted by the market as a sign of potential default risk, sparking panic among investors. After four and a half years of falling stock prices, Vanke... https://www.scmp.com/opinion/china-opinion/article/3336774/chinas-property-market-isnt-so-much-collapsing-being-reconfigured?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3336774/chinas-property-market-isnt-so-much-collapsing-being-reconfigured?utm_source=rss_feed Sat, 20 Dec 2025 21:30:08 +0000