Expert discounts risk of Chinese financial crisis

China may not encounter a major financial crisis like the one that hit the United States almost a decade ago given the former's tight financial regulation and low household mortgage ratio, a senior economist said.

"Many people are concerned that China may face systematic financial risks similar to the US nine years ago," Zhu Ning, deputy director of the National Finance Research Institute of Tsinghua University, told China Daily.

"I think there are two things that are good about China. First, China has a comparatively more strictly regulated capital market and financial market, making related risks less complicated and more controllable. Second, we have a much lower resident leverage ratio in the property market," said Zhu, who is also the Oceanwide professor of finance at Tsinghua.