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Growth of overall leverage ratio slowing

The growth of China's overall leverage ratio has been clearly slowing, the country's top economic regulator said on Monday. China will focus on lowering leverage ratios among State-owned enterprises and winding down "zombie firms" to reduce leverage ratios and control debt risks, the National Development and Reform Commission said in a statement on its website. China's government has vowed to tackle high leverage in the economy, but its high debt levels have led credit ratings agencies, including S&P Global Ratings, to cut the country's sovereign credit rating last week.