Pursuits
PBOC’s Ma Says China Must Act to Contain Housing Market ‘Bubble’
- Research bureau chief economist Ma Jun speaks to Business News
- Cities from Shanghai to Shenzhen have been tightening policies
Ma Jun.
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
China should take steps to restrain bubble-like expansion in housing markets and tame excessive financial inflows into property, according to a central bank economist.
"Measures should be taken to put a brake on the excessive bubble expansion in the property sector, and we should curb excessive financing into the real estate sector," Ma Jun, chief economist of the People’s Bank of China’s research bureau, said in an interview with China Business News. A third of the financial-system leverage added over the past decade has come from the surge of housing prices, Ma said.