China Property: The intensity of 'supportive policy' narratives - as measured by our frequency index of certain keywords in China media headlines (in blue in the chart below) hit the highs in November (max=100) with the latest wave of policy support for the property sector that started on Nov 11, with major new announcements in the past days. 

A clear response to the drop in new home sales (in orange) and the levels of distress among many developers.