China Stats bureaus says property risks have effectively been resolved

National Bureau of Statistics spokesman Xing Zhihong news conference comments:

• Says China's property risks have been effectively resolved
• Destocking efforts in third- and fourth-tier cities achieving results
• Thus, China's economy will maintain steady and improving momentum, with economic growth still within a reasonable range

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Huh. Maybe so.

I would have thought that following the national Congress, with the next not for 5 years, is a time when we will see tightening in China - property curbing efforts, more capacity cuts, more structural reform .... in short a lot of tough decisions. But, may be wrong.