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China’s debt-reduction campaign a 2021 priority as coronavirus drives surge in borrowing

Summary:
[unable to retrieve full-text content]China is set to resume its deleveraging campaign this year, but at a modest pace, as it seeks to balance financial risks with putting excessive downward pressure on an economy still recovering from the coronavirus shock of a year ago.The government’s work report said deleveraging was one of the “five major tasks” for the government in 2021, with a goal of keeping overall leverage – the ratio of debt to gross domestic product (GDP) – “generally stable”.Beijing’s renewed emphasis on debt…

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[unable to retrieve full-text content]
China is set to resume its deleveraging campaign this year, but at a modest pace, as it seeks to balance financial risks with putting excessive downward pressure on an economy still recovering from the coronavirus shock of a year ago.The government’s work report said deleveraging was one of the “five major tasks” for the government in 2021, with a goal of keeping overall leverage – the ratio of debt to gross domestic product (GDP) – “generally stable”.Beijing’s renewed emphasis on debt…

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