China’s Li calls for tightening on back of housing bubble fears

chinese yuan

China must start raising interest rates if it wants to avoid a housing bubble worse than that witnessed in the United States and the United Kingdom, a member of the central bank's Monetary Policy Committee has warned this week.

Li Daokui, a member of the committee, told the People's Daily, a state-owned news agency, on Wednesday said China was running the risk of "overheating," and "conditions to adjust deposit interest rates" were now in place.

Li told the Financial Times, a newspaper, on Monda

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