China central bank says to keep reasonable growth in credit, social financing

[July 08, 2016]  BEIJING (Reuters) - China's central bank reaffirmed on Friday that it will maintain reasonable growth in bank credit and social financing as the economy still faces downward pressure.

Some Chinese provinces and municipalities "have relatively big reliance on real estate and infrastructure investment", the central bank said in a report on regional financial operations.

Debt levels were rising rapidly in some regions, it said.

The authorities will take steps to ward off regional and systemic financial risks, the central bank added.

(Reporting by China Monitoring Desk and Kevin Yao; Editing by Robert Birsel)

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