Ever Since China’s central government set about strengthening financial regulations in 2017,concerns have been mounting about adjustments made in the financial industry and their possible effects on the economy.The central government set three major policy initiatives in three years.The first is to prevent and mitigate major risks-mainly financial risks.An important means of preventing and mitigating financial risks is to control and reduce leverage,or to deleverage.Debt defaults have increased significantly since 2018,and there have been increased concerns on risk appetite in the financial market,and the impact on private enterprises.
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