China should tighten its fiscal, monetary and foreign exchange policies or risk a housing price bubble and a jump in the inflation rate. These are the thoughts from one of Asian Development Bank's top officials.

Rajat Nag, the ADB's managing director general, says China should coordinate with other Asian nations to reduce spending, raise interest rates and revalue currencies in the face of stronger economic growth this year.

He says China should follow through with measures to ease property market speculation, including restrictions on lending to buyers who already own two or more homes.

Sourced from www.cctv.com