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China Daily (Hong Kong) - - NATION DIGEST -

“Along with the fi­nan­cial and credit stim­u­lus poli­cies rolled out since 2009, al­most all Chi­nese cities have seen rapid in­creases in prop­erty prices, with the wide­spread ap­pear­ance of bub­bles.”

a pro­fes­sor at the School of Economics at Ren­min Univer­sity of China, quoted by Peo­ple’s Daily dur­ing an on­line in­ter­view on Tues­day. Tao said the sit­u­a­tion, if unchecked, will neg­a­tively af­fect China’s longterm eco­nomic growth, so­cial sta­bil­ity and en­vi­ron­men­tal pro­tec­tion.

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