Expert: Balance borrowing, growth

Nation should promote idea of 'cutting overcapacity, destocking, deleveraging and reducing corporate costs'

China should pay more attention to maintaining a balance between cutting leverage levels and stabilizing economic growth in the second half of this year after it achieved faster-than-expected GDP growth of 6.9 percent in the first half, said a former central bank adviser.

"So far, China has done a good job in striking such a balance," said Yu Yongding, an economist at the Institute of World Economics and Politics of the Chinese Academy of Social Sciences. "China's deleveraging move is in the right direction, but it is a long-term process and we should not carry it out too hastily so as to affect the normal financing activities of enterprises, especially small and medium-sized companies," Yu, a former member of monetary policy committee of the People's Bank of China, told China Daily.