China Banking and Insurance Regulatory Commission Chair speaking at a briefing:
- says the country to reduce leverage
- banks have made progress in reducing leverage
- situation with property to improve ... says property sector has big bubbles
- says to keep focusing on financial risks
China is walking a fine line supporting a recovering economy and keeping an eye on financial stability (which can be a concern if leverage expands too quickly or too much). Its very rare for Chinese authorities to come out and say they are seeking to expand leverage, whatever comments we get on borrowings are of the 'reduce' variety.
