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Sovereign Wealth Funds Briefing - Categorized | Financials, Trends

No US-style subprime crisis for China: Former CIC Chair

Posted on 27 September 2013

While parallels have been drawn between China’s inflated housing market and the U.S. housing bubble that triggered the 2007-2008 global financial crisis, the world’s second-largest economy is unlikely to face similar subprime problems, according to former chairman of the board of supervisors of China Investment Corp (CIC) – the country’s sovereign wealth fund.
“You can’t generalize about a housing bubble in China. In tier-one cities there’s strong demand, in second and third-tier cities there may be some bubbles. But as long as we handle it carefully, it’s not the same as the U.S.,” Liqun Jin said……………………………………….Full Article: Source


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