China can avoid Japan-style property bubble

[BEIJING] China's policy fine-tuning and ongoing urbanisation can help it to avoid a Japan-style property bubble, a senior housing official said, amid fears that a housing market crash could lead to a hard landing for the world's second-largest economy.

Beijing has allowed local governments to take differentiated property tightening measures, rather than a one-size-fits-all bid to cool the market, Vice Housing Minister Qiu Baoxing said in rema…