CNBC reports that chairman of Chinese investment management firm Citic Capital told that while there may be signs of a bubble forming in global markets, that frothiness is less likely in China.

“Overall, clearly, there is bubble around the world. China, I think, is less so because of … capital control. Second, (the) government is very determined not to create a real estate bubble. So, the banking sector’s been given very specific instructions not to increase lending,” said Zhang Yichen, who is also the chief executive of Citic Capital.

Chinese authorities have clamped down on the country’s property sector as debt risks for property developers mounted last year.

High-profile investors have recently warned of a massive bubble forming on Wall Street as they grow concerned that smaller traders may be getting carried away with speculative trades.

“There has been increased evidence of bubbles in pockets of the market — most recently reflected in Wednesday’s “flash mob” activity by retail traders in some of the most heavily shorted stocks (largely by hedge funds),” the financial research arm of Charles Schwab wrote in note.

“The trading activity is yet another sign of extremely frothy sentiment, which has been building in earnest since last fall. Lately, it has entered a unique new phase driven by retail traders,” the note warned.