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Opinion: Deleveraging: Put Real Economy First

It has become apparent that Chinese government’s deleveraging campaign is now targeting the real economy more than the financial system, but that does not mean the government is done with cutting the excesses out of the financial system.

In fact, over the next five years, I reckon financial regulations will become tighter, and deleveraging the industry will speed up. That is inevitable as the bloated financial system has impeded economic development, and reforming the financial sector has lagged behind reforming the state sector.

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