With efforts by the property sector to deflate housing bubbles resulting in significant success, it appears to be the right time for Chen Qi and her husband to buy their dream home in Shanghai.

Yi's remarks indicate the PBOC still has adequate standard monetary policy tools like an RRR cut at its disposal to solidify China's economic recovery, while aggressive money printing that could deflate the renminbi remains unlikely, experts said.

"Therefore, room for a strong greenback to further deflate China's foreign exchange reserves could be limited," Tang said, adding that the nation's robust trade surplus and the renminbi's stability compared with major nondollar currencies also help stabilize the country's forex holdings.

The US Federal Reserve's ongoing interest rate hikes could deflate the value of investors' US debt holdings and increase downward pressures on the US economy, Ye said, adding that the risks holders of US debt face have intensified as the US national debt has increased to a record high.

To deflate housing bubbles, we must build a home leasing market," said Wang Yi, general manager of CCB's housing finance & personal lending department.