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1.Market Observations, 5.Troubled companies

3 Oct 2016 (AFR) – China determined to lower debt levels says top banking official

(2 October 2016, AFR, p1, by Angus Grig, Lisa Murra)

‘The Chinese government is determined to lower debt levels across the economy, but this should be done gradually to avoid a sharp slow-down in growth, according to one of the country’s most senior banking regulators. Wang Shengbang, deputy director of the Prudential Regulation Bureau of the China Banking Regulatory Commission, said Japan’s experience in the 1990s had stiffened resolve in Beijing to begin the difficult task of withdrawing credit from the economy.’

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