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.