矿业专家：中国房地产-下行周期再续两年-Mining Expert Calls #3 China Property_ Another Two Years of Downcycle

ab 26 November 2025 Global Research Mining Expert Calls #3 China Property: Another Two Years of Downcycle Caio Greiner Analyst caio.greiner@ubs.com +55-11-2767 6294 Andrew Jones Analyst andrew-i.jones@ubs.com +44-20-7901 6545 We hosted UBS's John Lam in Part 3 of our China Expert Call series Our China property team turned more cautious in November about the property market outlook (note), believing housing price expectations have fundamentally changed with rent now preferred over purchase; after a short sta ...