BBVA Chairman Gonzalez Sees China Real-Estate Bubble

Feb. 2 (Bloomberg) -- Banco Bilbao Vizcaya Argentaria SA Chairman Francisco Gonzalez said there is “something of a bubble” in China’s real-estate market and government officials are taking action to prevent problems.

“I think there is something of a bubble in China, above all in real estate, but the good thing is that the state is acting with a lot of anticipation,” Gonzalez told reporters in Madrid today.

BBVA agreed in 2006 to invest in China’s state-owned Citic Group to help establish a foothold in Asia and diversify its business away from Spain.

To contact the reporter for this story: Charles Penty in Madrid at cpenty@bloomberg.net

To contact the editors responsible for this story: Frank Connelly at fconnelly@bloomberg.net