UBS chief China economist Wang Tao: Sees 15% chance of slowdown in China property development activities; Would drag down GDP growth rate to around 5% if happens - Chinese press
- Does not see China to experience a housing "crash", nor other financial crisis, like other emerging economies have experienced.
- Current risks in housing market different from previous challenges; Current risks due to excess supply, slower growth of demand, but not tight govt policy.
- Current situation could be a "structural turning point" for China housing market.