The International Monetary Fund does not see a serious risk of a market bubble in China, a senior IMF official said on Tuesday.

"Asset prices in some specific sectors in some specific regions of China may be frothy but there is certainly no widespread asset bubble," Jorg Decressin, chief of the IMF's world economic studies division, told a news conference.

Earlier, the IMF said in its updated Global Financial Stability Report that the rise in asset prices in some emerging market countries could not yet be considered excessive and widespread.