China will focus on slowly cutting back its macro-economic leverage ratio to contain financial risks, according to state radio, as it pursues more sustainable means of economic growth.
The radio channel cited President Xi Jinping in the message, who said that “local governments and enterprises, especially state-owned enterprises, must reduce their leverage as soon as possible and we will strive to achieve a stable and gradual decline in the macro leverage ratio.”
“We should give priority to issues that may threaten economic and social stability and trigger systemic risks.”
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