Vi e w p o i n t | 15 Jul 2026 03:58:32 ET │ 16 pages China Property Jun NBS: Weaker Investment; Land Supply Constrains Volumes Position for sales growth and pickup in launches from Sep; look through weak 1H earnings — Our positive sector view is backed by (1) likely accelerating sales growth in Jul-Sep on resilient volumes in core cities and a favorable low base; (2) a stronger new launch pipeline from Sep; (3) likely supportive tone from Jul's Politburo meeting. Despite recent sector share price retreat, ...