The Bank of China has raised a red flag on the country’s growing property bubble.
“A property bubble is the biggest risk for China’s economy,” Zhou Jingtong, a senior economist with the state-owned commercial bank said at a briefing to release the bank’s quarterly economic outlook report on Thursday.
Skyrocketing home prices would “exacerbate the wealth gap and economic woes”, he said.
“Property speculation becomes common practice and everyone is…
Source : South China Morning Post
Read more…Growing property bubble is China economy’s biggest risk, warns Bank of China economist
