China should immediately halt some of its real estate stimulus policies, or risk inflating a bubble that in its bursting would wreak financial and even social trouble, a government newspaper said.
An opinion piece in the Financial News, a newspaper published by the central bank, said rampant speculation in the country’s property market was akin to a time bomb that could threaten future growth.
'If China does not exit its stimulus policy … property prices and the market may go out of control,' it said.
Mainland’s housing prices have been rising since March propelled by a slew of government measures, from lower downpayments and mortgage rates to tax cuts.
South China Morning Post