China says a painful downturn in its property sector has bottomed out after three years of adjustment. The housing minister Ni Hong struck a positive tone at a much-anticipated press briefing in Beijing on Oct 17.

China plans to almost double credit support for “whitelist” housing projects to Rmb4tn ($562bn) as part of official efforts to reinvigorate its property sector and turn around the economy. The whitelist was introduced in January and includes projects and developers eligible to receive further financing from local and state-owned banks to help them complete unfinished projects.

China’s coast guard, the world’s largest maritime law enforcement agency, played an unprecedented role in this week’s military drills around Taiwan, participating in a simulated blockade of the island and raising the chance of escalation as Beijing muddies the waters with “gray zone” tactics.