This from China Daily earlier ... Xu Zhong, head of the research bureau of the People's Bank of China, wrote in the latest edition of Caijing Magazine
- China should deleverage its economy at a proper pace to ensure the financial sector is under pressure to keep reducing leverage while avoiding being pushed into any systemic financial risks
- "China's overall leverage level is reasonable but is rising at an alarming pace, especially in the financial sector"
We've been banging on about the increased focus on deleveraging and reform ... this is more on the same theme (i.e more banging on from me)