September 25, 2017 / 7:40 AM / 9 months ago

China state planner says growth of overall leverage ratio clearly slowing, stabilising

BEIJING, Sept 25 (Reuters) - The growth of China’s overall leverage ratio has been clearly slowing and is now stabilising, the country’s state planner said on Monday.

China will focus on lowering leverage ratios among state-owned firms and winding down of “zombie firms” to reduce leverage ratios and control debt risks, the National Development and Reform Commission said in a statement on its website.

China’s government has vowed to tackle high leverage in the economy, but its high debt levels have led credit ratings agencies, including S&P Global Ratings last week, to cut the country’s sovereign credit rating. (Reporting by Beijing Monitoring Desk; Editing by Kim Coghill)

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