November 29, 2017 / 3:02 AM / 3 years ago

China's economy still facing relatively large downward pressure: banking regulator

A man rides an electric tricycle past residential apartment blocks under construction on the outskirts of Beijing, China, November 29, 2017. REUTERS/Thomas Peter

BEIJING (Reuters) - China’s economy is still facing relatively large downward risks that may become apparent by early 2018, a senior official of the banking regulator said on Wednesday.

Yu Xuejun, head of the China Banking Regulatory Commission’s regulatory board for key state-owned financial institutions, said during a event hosted by Caijing that China’s economic stimulus measures have been overly strong, resulting in asset bubbles.

Reporting by Elias Glenn and Ma Rong; Writing by Se Young Lee; Editing by Kim Coghill

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