China should bolster macro-pru framework – IMF paper

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China’s macro-prudential policies targeted at household debt should be strengthened to align with “international norms”, according to a paper published by the International Monetary Fund.

At the end of 2018, the total debt of Chinese households stood at 52.6% of GDP, above the emerging market average.

Part of that build-up, Fei Han et al say, was caused by China’s rapid financial market development and improving financial inclusion. These factors, combined with rising incomes, have increased

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