"China's overall leverage level is reasonable but is rising at an alarming pace, especially in the financial sector," Xu said. The original commentary was published in business journal Caijing Magazine.
Xu said high levels of stimulus spending from government paired with poor corporate management and financial supervision were key factors causing rising levels of leverage, Xinhua said.
He added the government should stick to "prudent and neutral" monetary policy, reduce emphasis on economic growth targets, and improve corporate governance so authorities did not have to step in so frequently to help companies out.
"Financial security is achieved via reforms, not bail-outs," Xinhua reported Xu as saying.
王毅访新西兰、澳大利亚 双边关系现稳定进展
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中国外交最高级别官员王毅18日访问了新西兰,进行新西兰新保守派政府上台以来的首次访问。他还将于20日访问澳大利 […]...
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