Katsuji Nakazawa is a Tokyo-based senior staff writer and editorial writer at Nikkei. He spent seven years in China as a correspondent and later as China bureau chief. He was the 2014 recipient of the Vaughn-Ueda International Journalist prize.

Xi Jinping is betting that he can start reforming China's property market now and be able to chalk it up as an achievement at next year's party national congress. (Source photos by AP and Reuters)
Only those who understood politics knew they had to sell