China's biggest risk may be its property market ¡ª not the trade war  

• Property is the biggest risk in the next 12 months, much greater than the trade war, according to Larry Hu, head of greater China economics at Macquarie.
• Last week, Nanjing, a tier two city, announced a ban on corporate purchases of residential properties, following similar moves to limit speculation by Shanghai and some other cities.
• However, the public still expects property prices will increase because the government has constantly switched between tightening and easing policies, often to prevent a drop in growth, according to a report co-authored by Sheng Songcheng, a counselor to the People's Bank of China.