January 9, 2019 / 10:52 AM / 2 months ago

China to stick to structural deleveraging, risks under control: central bank

FILE PHOTO: People walk past the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. REUTERS/Jason Lee/File Photo

BEIJING (Reuters) - China will press on with its structural deleveraging as financial risks exposed earlier have been dealt with in an orderly way, central bank governor Yi Gang said in remarks published on Wednesday.

China will maintain the steady and healthy development of stock, bond and foreign exchange markets, the official Xinhua news agency quoted Yi as saying.

While reiterating a prudent monetary policy, Yi said the central bank will improve its policy transmission mechanism in order to step up support of the real economy.

An incentive scheme will be established to encourage banks to support the real economy and boost lending for small firms, Yi said. China’s financial risks are generally under control while its macro-leverage ratio is basically steady, he added.

Reporting by China Monitoring Desk; Editing by Simon Cameron-Moore

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