Quick Take: PBOC Adviser Says Regulators Will Avoid Excessive Deleveraging

Ma Jun, a member of the central bank’s monetary policy committee, indicated that policymakers may be shifting their approach to implementing the government’s campaign to cut debt in the Chinese economy.

Ma, previously the head of the research bureau at the People’s Bank of China (PBOC), said financial watchdogs would not take a “one-size-fits-all” approach to deleveraging that could involve the excessive use of measures to reduce leverage at the aggregate level.