China Will Maintain Deleveraging Campaign Under 2016 – 2020 Five Year Plan
China will maintain its ongoing deleveraging campaign and continue to drive key reforms of the financial sector according to sources speaking to Reuters.
The sources said on Monday that China will “actively and steadily” pursue its deleveraging campaign and combat financial risk, as part of China’s five year plan for the financial sector covering the period from 2016 to 2020.
The central government will continue to drive other key economic reforms, which include boosting the share of direct financing, and equity financing in particular, as well as expanding the role of price-based monetary policy targets and giving greater play to the role of interest rates.
Beijing will also further advance the internationalisation of the renminbi, with cross-border yuan payments expected to account for more than a third of all cross-border payments by the end of the current decade.