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China's central bank chief sounded the alarm over rising debt

Mar 21, 2016, 13:30 IST

REUTERS/China Daily

Zhou Xiaochuan, the governor of the People's Bank of China, warned over rising debt levels in the economy.

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"Lending as a share of GDP, especially corporate lending as a share of GDP, is too high," Zhou said, according to the Financial Times and Bloomberg.

According to Bloomberg, Vice Premier Zhang Gaoli said the government would tackle volatility in the country's financial sector.

"There will be no systemic risks, that's our bottom line," Zhang said.

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