China central bank bears with market pain in leverage squeeze
But economists say PBOC won't clamp down so hard it endangers the growth target of above 6.5%
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Beijing
THE People's Bank of China (PBOC) has surprised many with its tolerance for market pain as it squeezes leverage in parts of the financial system.
But rest assured, China won't clamp down so hard it endangers President Xi Jinping's goal of keeping growth above 6.5 per cent, according to economists from Morgan Stanley, Mizuho Securities and Oxford Economics.
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