Let Market Play the Decisive Role in Deleveraging, Says Central Bank
(Beijing) — China should prudently manage efforts to reduce debt by letting market forces play a decisive role while the country tries to deflate asset bubbles without setting off a liquidity crisis, according to a central bank working paper published Wednesday.
The paper, issued by the research bureau of the People’s Bank of China (PBOC) on Wednesday, explained factors pushing up China’s leverage ratio and discussed its impact on financial stability.
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