People's Daily editorial: rescue rumors are bunk

The People's Daily uses an idiom meaning unrequited love: the industry desperately wants a bailout, but they won't receive it. This is why I have often referenced the general tenor of the articles and debate over real estate in China: there is still a lot of optimism, expectations that prices will bottom out or the government will step in. The major papers have talked up reform lately and there are those who believe this means there's some agreement among party leaders over the next stage of reform. However, this editorial slams the door on bailouts and shows that there's nothing in the works. Here's one choice sub-heading in the article: Do not underestimate the government's determination. The editorial notes that the government doesn't want to the real estate slowdown to be a drag on the economy, but clearly any type of stimulus or rescue efforts will be directed at the broader economy, not the real estate sector.

人民日报：救市传言只是房企“单相思”