Growth in asset values unsustainable: Cheng Siwei
Updated: 2007-07-16 16:49
China's investors should limit risk created by excessive growth of financial assets, according to Cheng Siwei, vice-chairman of the Standing Committee of the National People's Congress, Caijing Magazine reported today.
Speaking at the East Asia Investment Forum held in Beijing from July 14 to 15, Cheng said that experience has proved that current asset growth was unsustainable.
"It's normal to see the growth of China's capital market above the world average due to its rapid economic development," Cheng said at the forum.
"Judging from present economic development in East Asia area, there's little probability of another financial crisis, but we must pay close attention to the historical lessons," Cheng said, viewing the capital market with guarded optimism.
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