China's financial sector 'at risk of bubble; government considering property tax'
Beijing
CHINA'S financial sector faces bubble risks, a government official warned on Thursday and said a property tax may be on the cards as authorities extended their efforts to reduce a worrisome build-up of debt in the economy.
The ratio of China's financial sector to the overall economy "is the highest ratio in the world," said Huang Qifan, deputy chairman of the economic and finance committee under the National People's Congress, China's largely rubber-stamp parliament.
"This is not a good thing," Mr Huan…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Abu Dhabi returns to debt market with new US dollar bond
Ping An profit falls as market declines hurt investment returns
BOJ will hike rates if trend inflation accelerates, says Ueda
Binance’s rivals muscle in on Bitcoin trading around the world
Citi picks Amit Dhawan to head Singapore commercial bank operations
China finance ministry echoes Xi’s call for bond trading at PBOC