China should allow macro leverage ratio to temporarily rise, GDP to grow faster in Q3: PBOC official

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China's credit growth so far this year has been within a reasonable range and the country's GDP is expected to grow at a faster pace in the third quarter, said Ran Jianhong, head of the statistics department of the People's Bank of China (PBOC) at a news briefing on Wednesday.

"We are currently facing special situations, so increases in macro leverage ratio reflects the government's support for the economic recovery," said Ruan. "Authorities should allow macro leverage ratio to temporarily increase, in a move to step up credit support to the real economy . . .

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