China has less motivation to further stimulate economic growth, but the government needs to search for more me
thods to control debt and reduce default risks, according to officials and economists.
China’s macroeconomic leverage ratio, or the total debt-to-GDP proportion, rose slightly in the first quarter, but the overall leve
rage level still remained stable, Huang Xiaolong, deputy head of the Financial Stability Bureau of the P
eople’s Bank of China, the central bank, said at a media conference on Wednesday.
Recent research from the Chinese Academy of Social Sciences s
howed that by the end of March, the macro leverage ratio climbed to 248.83 percent from 243.7 p
ercent in 2018, as the government utilized several easing policies to support GDP growth in the first three months