China's Politburo signals focus on reducing housing inventory and improving policies for new supply to revive property sector.

China's Politburo signaled a focus on reducing housing inventory and improving policies for new supply in a bid to revive the country's troubled property sector. The announcement sparked optimism in the market, leading to a surge in property shares and a boost in investor confidence. The government's recent moves indicate a shift from past plans that threatened to add to oversupply problems, with limited room for new home demand growth given a shrinking population and slower rate of urbanization.