Policy for foreigner buy a house in China, any downside risk?

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What is Chinese gov't policy for Foreigners to buy house(s) in China?  Are forigners treated the same way as local Chinese people? what is the process to buy a house for foreigners (loan, pre-approval, brokers, lock down the loan for 30days before closing? final closing?)... How about the loan option (30y fixed, 15/20yr arms, jumbo loan?).  Any down side risk for foreigners to buy a house in China (say in Beijing)?
Many thanks for any advice!

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关键词：foreigner Downside Foreign Policy downs Chinese process people advice before

Do not buy, its a huge bubble, lots of down side. If you have to live there, and almost no upside, so its cheaper and less risky to rent.

Thank you for the advice, but could you please be more specific, like why it is huge bubble (cause timing?), and how you conclude that... any "index/benchmark" to compare and to what extend is good to buy?  In general, what is the process for foreigner to proceed to buy a house?  Any limits on buying (say per household one house per year?).....
Many thanks!