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More Risks For China Property Market?

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warning3 June 15, 2010 (Chinavestor) After spending much of this year under considerable pressure, the Claymore/AlphaShares China Real Estate ETF (NYSE: TAO) could be in for some selling as China's bank regulator is forecasting more risks on the horizon for a real estate market Beijing has worked diligently to cool.

The China Banking Regulatory Commission is asking banks to report on risk exposure before the end of this month after saying mortgage risks are rising. Property-price gains spurred concerns that a record 9.59 trillion yuan ($1.4 trillion) of loans extended last year to combat the effects of the global financial crisis may be causing asset bubbles, according to Bloomberg News.

China's property prices surged by more than 12% in May, showing the government's efforts to rein in real estate prices and a prevent an asset bubble from forming may not be working. The Claymore/AlphaShares China Real Estate ETF (NYSE: TAO) has gained almost 3% in the past month, but the ETF is down almost 10% year-to-date.

China's government has gone so far as to raise reserve requirements for banks and has raised downpayment requirements for first- and second-time home buyers along with a ban on purchase of third homes.



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