Deleveraging, particularly reducing.....>

CHINA PRESS: Deleveraging, particularly reducing the high leverage ratio of

companies, will be a long-term task, the Financial News, a journal run by the

People's Bank of China, said in the front page commentary on Wednesday. Heavy

financial burdens and high debt risks still exist in some companies, although

the overall corporate leverage ratio has declined, the commentary noted, adding

the acceleration of deleveraging in state-owned enterprises will be most

important task to advance corporate deleveraging. But deleveraging is a gradual

process and needs to avoid a squeeze on credit and investment that would hurt

economic growth, the commentary argued. The campaign should control capital

injections and optimize funding structures, while cracking down on the

"invisible debt" of local governments and deepening reform of SOEs, the

commentary argued. (Financial News)