China measures to cool property market likely to work: IMF

HONG KONG (BestGrowthStock) – China’s measures to gradually cool its property market will probably work, although more transparency is needed in bank lending to local governments, an International Monetary Fund official said on Thursday.

It was too early to say whether a bubble had formed in China’s property market, but a series of administrative actions taken by Beijing to cool the real estate market were expected to succeed, Jose Vinals, the IMF’s financial counselor and director of the monetary and capital markets department, told Reuters Insider TV.

(Reporting by Kelvin Soh, James Pomfret and Kei Okamura; Editing by Chris Lewis)

China measures to cool property market likely to work: IMF