China markets stabilise, but mood still fragile

Reuters

Chinese authorities are alarmed that even as the world's second-largest economy shifts down from double-digit growth of the past decades, debt keeps rising and much of it contributes to a build-up of risks and financial imbalances with little benefit for productivity and economic growth. As such, analysts think Beijing is even prepared to risk missing its growth target of 7.5 percent -- a two-decade low -- to drive home the message that banks can no longer rely on cheap cash to fund riskier operations.

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