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We need to reduce financial leverage: China's central bank deputy governor

A separate report on Saturday by Xinhua on how the country's 2016 central government budget was spent illustrates the scale of the issue Beijing faces


China must proactively but gradually reduce debt in the economy to prevent the buildup of financial risks, state news agency Xinhua quoted China’s central bank’s deputy governor as saying on Saturday. Yi Gang made the comments at a meeting about China’s economy in Beijing, Xinhua said. “We have to resolutely fight the battle to prevent risks and first have to control overall leverage by proactively, safely and steadily deleveraging,” he said. China’s state planner in September said that the growth of China’s overall leverage ratio ...

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First Published: Sun, December 24 2017. 01:18 IST