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Deleveraging efforts progressing well

China has made steady progress in deleveraging and the nation's leverage ratio will gradually be lowered, according to a report in Economic Daily. "China has entered a stage of stable leverage as the nation's deleveraging efforts have delivered primary effects," said Liu Shijin, vice-president of the China Development Research Foundation, a government think tank. Since 2017, the growth of China's leverage ratio has slowed down substantially. The leverage ratio in 2017 was 2.4 percentage points higher than 2016. The growth was 10.9 percentage points lower than the average annual growth rate from 2012 to 2016, according to Liu.