Curbing leverage risk bears fruit, bank head says

China's efforts to curb financial risks are bearing some fruit as the overall leverage ratio has been controlled at a stable level, said Yi Gang, central bank governor.

The country's economy is stabilizing, and the annual GDP growth target of around 6.5 percent, set early this year, will be achieved, Yi said in a Caixin magazine article published on its website on Thursday. Yi made the comments during the 2018 Annual Meetings of International Monetary Fund and World Bank in Bali, Indonesia.

"Over many years, we have talked about deleveraging. Now the leverage level has been stabilized, which is a significant change," Yi said.