BEIJING (Reuters) - China's top banking regulator said on Friday reducing leverage in the country's corporate, government and household sectors remains a major policy priority.
Speaking on the sidelines of the National People's Congress, Guo Shuqing, chairman of China Banking Regulatory Commission (CBRC), said the government will push for restructuring in the corporate sector and encourage debt-for-equity swaps.
The CBRC will also focus on cracking down on risks in shadow banking, including banks' wealth management products, interbank activities and off-the-balance sheet business, the trust industry and the online finance sector.