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Intense focus on debt

By Chen Jia | China Daily | Updated: 2013-07-05 07:21

China's leadership is expected to focus on averting any potential debt crisis and following a prudent policy in the coming quarter, to build a sound foundation for steady reforms, said Zhang Zhiwei, chief economist in China at Nomura Securities.

The nation is going through a deleveraging process, which is a priority for deepening the transformation of the economic growth pattern. The earlier the debt ratio can be lowered, the higher the probability China has to avoid a financial crisis, Zhang said.

"Keeping credit growth moderate, in line with GDP growth, and pushing structural reforms to boost growth may be the current task of the new leadership."

Intense focus on debt

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