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Beijing prioritizes financial stability for new year


12-19-2016 12:21 BJT

Full coverage: 2016 Central Economic Work Conference

And in another economic conference that concluded last Friday, a new tone has been for China's real estate market. The Central Economic Work Conference ended with the statement that 'houses are for living in, not for hyping up'. This shows China's determination to control asset bubbles and contain financial risks. Experts listed some major measures for this -- including de-leveraging and monetary policies.

"Now, de-leveraging is one of the most important measures we have taken to prevent financial risks. For starters, we will control the growth in the leverage ratio, and then we will stabilize it step by step. Because it's impossible to lower the leverage ratio significantly in a short period of time," Wang Yiming, deputy director of State Council Development Research Center, said.

"Through improvements to the credit structure and policy adjustments for credit, we can curb real estate loans that are for speculation purposes, and ensure that asset prices, especially those of property, can be relatively reasonable," Zeng Gang, Institute of Finance and Banking, Chinese Academy of Social Sciences, said.



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