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China has reached its goal of deleveraging – banking and insurance watchdog

China has reached its goal of structural deleveraging but will maintain the efforts to crack down on risky financing activities to contain risks in the sector, the banking and insurance watchdog said on Monday, which also urge banks to step up lending to smaller companies.

China's macro leverage level has maintained stable since last year, after growing by an average of more than 10 per cent a year previously. “After two years of work, various financial disorders have been effectively curbed,” said Wang Zhaoxing, vice chairman of China Banking and Insurance Regulatory Commission (CBIRC), in a news conference on . . .

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