Data show economy on a sound footing

Researchers and financial practitioners said data released recently by China's central bank and regulators show a solid basis for stabilized financial market operations and firm financial support for the real economy, the part of the economy that produces goods and services.

Li Peijia, a senior analyst with the Institute of International Finance at Bank of China Ltd, said: "China launched a series of policies to promote supply-side reform and prevent financial risks. These policies played a key role in containing the rapid growth of China's overall leverage ratio and in further reducing excessive interbank leveraging-up activities."

She said the growth of total social financing slowed down relatively fast this year, as banks adjusted their entrusted loan and trust loan businesses amid tighter regulation.