China May Stabilize Leverage by Curbing New Debts: Herald

China may stabilize the macro leverage ratio to better resolve risks from shadow banking, real estate and fintech companies, the 21st Century Business Herald reported citing analysts. Next year's new credit and total social financing may be capped at around CNY19 trillion and CNY32 trillion, down CNY1 trillion and CNY3 trillion from this year, the newspaper said citing Li Chao, the chief economist of Zheshang Securities. Next year's quota of local government special bonds may be reduced to CNY3 trillion from CNY3.75 trillion, according to Xue Xiaoqian, deputy director of the Government Debt Research and Evaluation Center. China's total debt as a share of GDP rose to 270.1% at the end of Q3 from 245.4% as of Dec. 31, the Herald reported.