Week 42 Wrap - Strong volume on seasonality yet leading indicators softened Key highlights for the week: Policy update: 1) Three more cities issued detailed city-level implementation rules for the Aug 28 reform (Shenzhen, Hangzhou and Ningbo), with broadly similar land payment schedule arrangements, old/new project classifications, maximum buyers' deposits ratio and escrow policies as precedent five cities. 2) Shandong Province announced the 15th FYP for urban renewal, highlighting all new housing supply sh ...