8 keywords of China's economy in 2016

: 0 Comment(s)Print E-mail China Daily, January 4, 2016

A bank staff counts clients' cash deposits in Qionghai, south China's Hainan Province, Dec. 5, 2011. [Xinhua]

7.De-leveraging

China will strengthen all-round supervision, regulate financing activities, and launch special renovation to address financial risks and clamp down on illegal fund-raising, said the Daily. The government will also improve risk- warning mechanism, duly handle wrongdoings to ward off systematic and regional risks.

"The 'de-leveraging' task, put forward in the Central Economic Work Conference, is our comprehensive focus in resolving China's financial risks. Its generally proposes to 'stick to the bottom line of avoiding systematic and regional risks'. Meanwhile, it also focuses on local debt risks.

"In terms of specific measures, the 'de-leveraging' task means to keep replacing the extending local government debt. In fact, this work has been conducted for a period of time and has attained some achievements. However, as matters stand, it's still necessary to speed up implementation. In addition, China will also make greater efforts to investigate and punish violations against laws and regulations in financial fields such as illegal fund-raising or financing under the disguise of the Internet."

-Zhao Xijun, deputy director of Financial and Securities Research Institute at the Renmin University of China