Hedge fund manager James Chanos is overly pessimistic about China’s property market because he underestimates government efforts to avoid a bubble, according to Fan Gang, a former People’s Bank of China adviser.
China should expand investment channels to avoid asset bubbles, Radio Television Hong Kong reported today, citing Fan Gang, a former central bank adviser. Inflation in China is unlikely to accelerate to the peak in 2007 and 2008, RTHK cited Fan as saying.
Asian stocks rose this week, reversing three consecutive weeks of declines, after U.S. economic reports and eased concern over Europe’s sovereign debt crisis added to confidence in the global economic recovery.
China’s second straight annual drop in its working-age population is robbing President Xi Jinping of an engine of three decades of growth, underscoring the need to close the gap between his achievements and ambitions.