The theory that the next global.........>

CHINA PRESS: The theory that the next global financial crisis will start in

China is groundless, said the Economic Daily in an opinion piece published on

Thursday.

  - Predictions regarding China's crisis focus on the nation's currently high

leverage levels. For more than a decade, predictions have shifted from expecting

a hard landing in the Chinese economy, to expecting systematic financial risks,

the newspaper said;

  - The growth rate of China's macro leverage ratio has slowed significantly. In

2017, it was 10.9 percentage points lower than the average annual growth rate

from 2012 to 2016. In the first quarter this year, it was 1.1 percentage points

lower than that of the same period last year. This shows China's structural

deleveraging campaign has taken effect, Economic Daily said.