China's debt level stabilized in Q2, more room fiscal policy boost – China Daily

China Daily is out with a story on stabilizing leverage ratios in China, with the key highlights found below.

“According to a report from the National Institution for Finance and Development, a government-backed financial think tank, 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.

"Debt level was stabilized," it said.

"For the second half of this year, in the face of the economic growth pressure, "stabilizing economic growth should be prior to deleveraging", said Li Yang, head of the institution.”