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1st LD: China emphasizes financial risk prevention

Xinhua, December 16, 2016 Adjust font size:

China will put more emphasis on preventing and controlling financial risks in 2017, said a statement issued Friday after the Central Economic Work Conference.

The government will step up efforts to prevent and control asset bubbles and improve regulation to ensure there will be no systematic financial risk, said the statement.

Efforts should be made to ensure the economy operates within a reasonable range and to enhance risk prevention and control in key areas, it said.

Attendees stressed lowering the leverage ratio of enterprises as the top priority in the government's deleveraging efforts. Meanwhile, debt-raising activities by local governments should be regulated, said the statement.

The Central Economic Work Conference, an annual meeting during which Chinese leaders review the past year's economic performance and map out plans for the next year, was held in Beijing from Wednesday to Friday. Endi