Chinese top official warns economy ‘kidnapped’ by property bubble

Financial Times, Aug 10, 2017
by Gabriel Wildau

A top Chinese lawmaker has warned that profiteering by real estate developers is sapping the lifeblood from China’s economy, as authorities make efforts to contain runaway property prices.

Strong growth of real estate prices, sales and construction has powered China’s economy this year, putting gross domestic product on the path to its first annual growth acceleration since 2010.

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