A senior policy maker stressed
Thursday China should continue its deleveraging process this year, while
highlighting the necessity of tackling obvious yet easy to neglect dangers in
the economy.
"The course of deleveraging cannot be altered," Yang Weimin,
"The course of deleveraging cannot be altered," Yang Weimin,
deputy head of the Office of the Central Leading
Group on Finance and Economic Affairs, the country's top economic policy-making
office, said at a press conference.
High leverage is "the source
of risks" and authorities should not allow the economy's leverage ratio to
climb further for the sake of supporting growth, Yang told reporters.
He named several areas where
systemic risks could arise from, including interbank investment and financing,
local government debt and state-owned enterprise (SOE) debt, calling for early
measures to deal with them.Left unaddressed, those problems
could cause greater damage to the economy, Yang warned.






