As we enter into February, the central government has introduced a series of policies to accelerate the de-stocking process in the property market.

ANBOUND's research team believes that these policies along with lax monetary policy have further manifested the property bubble.

The policy on destocking the property market is at the severe risk of being twisted.

The loose monetary policy and leveraging will only continue to prop up property price in the first and second tier cities and it has very limited effect on the destocking the property market in the third and fourth tier cities. This will increase the financial risk.

The central government should remain vigilant on the hidden risk and the crisis of the current property market.