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The Asian forum of Bo’ao, on the island of Hainan, to the South of China, has just ended. It was last April 13. A forum of which, one reminds it, the goal is to promote the economic cooperation in Asia and between Asia and the rest of the world. A species of " zone of contact", therefore, between governments, enterprises and other organizations

And one of the crucial topics that has been landed at the time of this forum, it is the crisis of the real estate credit of the sub-early, these credits that were granted little to the United States to customers solvent. And according to several Chinese economists, hey well for the meantime, the negative influences of this crisis on the Chinese market remain under control. Remain that, for them, the Chinese authorities should pull the lesson of this American crisis while reinforcing the control on the financial sector.

Because the famous American crisis of the subprimes entailed a world economic distress. Not only the American economy underwent and sudden always a depression, but it also slows down the development of other countries developed. As developing country, China, her, yet must also to remain heedful.

Yes, because the Chinese real estate market knows since several years a superfast development. Too fast, will say some. But according to some specialists, under the influence exactly of this crisis of the subprimes, hey well the situation would have made worse this year, in 2008. The Chinese market will undergo thus, maybe, a real estate bubble. Then evidently, in this context, the perspectives of the Chinese real estate are not optimistic. A man, him, remains optimistic. It is Chen Huai, the director of the center of study on the policies of lodging construction:

" I don’t think that the Chinese real estate is in one period of ebb. Anyway, it is necessary 20 or 30 years to develop the urbanism in China. It is a strategic development on the long term. That doesn’t have anything to see with the crisis of the subprimes and the organization of the JO of Beijing. It is why one cannot say indeed that because of this crisis of the subprimes, the Chinese real estate is in a delicate situation."

Hu Zuliu is the general manager of the Asia branch of Goldman Sachs, one of the investment banks among the oldest and most prestigious of the world. For him, even though the Chinese real estate doesn’t yet undergo the influences the crisis of the subprimes, it is not necessary to lower the care. Because the real estate is a little a barometer of the financial sector. When the real estate goes badly, according to it, all goes badly:

" I think that we must remain heedful. It is not necessary to think that China will never be touched by the crisis of the subprimes, even though it is a big country and that the Chinese economy is in full flight since 30 years. "

Last April 12, in Washington, Zhou Xiaochuan, the governor of the popular Bank of China? does the central bank complicate – explained at the time of a conference that because of the American crisis of the subprimes, that the Chinese financial establishments kept their optimism for the meantime. Zhou Xiaochuan:

" The Chinese financial establishments also underwent some losses. But, by happiness, these establishments didn’t invest a lot in them " subprimes" on the markets. And then, these big financial establishments generally carry rather well themselves, some light losses not constituting a threat for them. "

In spite of it, a certain number of economists thinks that the crisis of the subprimes already sounded the siren of alarm for the sector of the finances in China.

At the time of the Asian forum of Bo’ao this year, some persons responsible of big Chinese industrial banks reaffirmed it:  some lessons must be pulled from the previous experiences and the control must be handed to the first place.

The objective, it is to achieve a development in a lasting and regular way.

Jiang Jianqing is the president of the board of directors of the industrial Bank of China. For him, it is to the board of directors to take its responsibilities to assure the management of the risks:

" As member of the board of directors, they can give their opinions about the financial risks, while using their professional knowledge and their experience. Their expertise is very important. They must have deep knowledge in the financial domain. "

Liu Mingkang is the president of the national committee of management and control of the banking industry. According to him, the central government should reinforce the control more in the financial sector:

" The service of control must be at all times reactive. It must be capable to take efficient measures to protect the investors. It is the responsibility of the service. And then, the service of control must collaborate with other services of the country, to analyze the essential risks together. And then, our role, it is also to increase the international cooperations. That will permit to avoid the contagion of the problems economic of a country toward the other countries. "

But backing of the control doesn’t mean as far as the Chinese government has the intention to intervene in the working of the financial establishments. China will evidently continue its reform of the financial sector but will pursue its politics of opening to the foreign funds.