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China ‘Worried’ About Bubbles in Property, Foreign Markets

EconomyMar 01, 2021 10:36PM ET
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© Bloomberg. Guo Shuqing, deputy governor of the People's Bank of China (PBOC) and chairman of the China Banking Regulatory Commission, speaks during the Lujiazui Forum in Shanghai, China, on Thursday, June 14, 2018. China's central bank is studying policies to boost loans to smaller firms, PBOC Governor Yi Gang said in a speech to the annual forum.

(Bloomberg) -- China’s top banking regulator said he’s worried about a slew of risks including the nation’s property bubble, rapid inflow of foreign capital and elevated global markets.

Guo Shuqing is “very worried” that bubbles in U.S. and European financial markets could burst as their economies are still struggling under the weight of the coronavirus pandemic.

The rallies in those markets are heading in the opposite direction of their underlying economies and will have to face corrections “sooner or later,” Guo, chairman of the China Banking and Insurance Regulatory Commission and Party secretary of the central bank, said at a briefing in Beijing on Tuesday.

Regulators are watching capital inflows into China, where the economy is still growing and interest rates are higher, to prevent disruptions, although the size and speed of such inflows remain controllable at the moment, he said.

Guo also said bubbles in China’s property market remain relatively big, with a lot of people buying homes for investment or speculative purposes, which is “very dangerous.”

©2021 Bloomberg L.P.

China ‘Worried’ About Bubbles in Property, Foreign Markets
 

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Comments (2)
Mike Chen
Mike Chen Mar 02, 2021 2:37AM ET
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Chins is right! Bubble markets gonna burst soon
Nick Thomas
Nick Thomas Mar 02, 2021 12:33AM ET
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china lied. people died.
 
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