China Says It Can Balance Leverage Cuts and Maintain Growth
Concrete sections stand at the construction site of the Hong Kong-Zhuhai-Macau Bridge (HZMB) in Hong Kong, China, on Tuesday, March 28, 2017. Hong Kong’s next chief executive will inherit an economy vulnerable to China's growing pains on one side and volatile global capital flows on the other.
Photographer: Billy H.C. Kwok/BloombergChina can maintain stable economic growth while cutting excessive leverage to prevent financial risks, a top economic official said.
The nation can’t let leverage rise for the purpose of boosting economic expansion, Yang Weimin, vice minister of the Office of the Central Leading Group on Financial and Economic Affairs, said at a briefing on Thursday. Liquidity in the second half of 2017 will stay basically ample, according to Wang Zhijun, another official in the same office.