Corporate debt too high, warns PBOC chief
China must develop more robust capital markets, which will help reduce leverage in the corporate sector and boost equity financing, says central bank governor
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Beijing
PEOPLE'S Bank of China governor Zhou Xiaochuan sounded a warning over rising debt levels, saying corporate lending as a ratio to gross domestic product had become too high and the country must develop more robust capital markets.
China still has a problem with illegal fundraising and financial services are insufficient, Mr Zhou said in a speech at the China Development Forum in Beijing on Sunday. He said the country still needs regulation to guard against excessive leverage in foreign currencies.
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