Debt at stable level in Q2 as macro leverage ratio growth falls sharply

China's debt level stabilized in the second quarter, leaving more room for fiscal policies to boost economic growth in the remaining months of this year, according to research from a national think tank on Tuesday.

The country's macro leverage ratio - the percentage of debt in the government, household and corporate sectors to total GDP - increased by 0.7 percentage point in the second quarter to 249.5 percent, down from the 5.1 percentage growth in the first three months, according to a report from the National Institution for Finance and Development, a government-backed financial think tank.

"The fast expansion of the macro leverage ratio has been constrained, and the overall debt level was stabilized," it said.