BEIJING: China saw its macro leverage ratio of the real economy decline by 3.6 percentage points year-on-year in the first quarter of this year, the top banking and insurance regulator said on Tuesday.
The decline of the macro leverage ratio remained overall stable, Liang Tao, vice chairman of China Banking and Insurance Regulatory Commision, told reporters in Beijing.
The regulator has given approval for two more foreign banks to set up representative offices in China so far this year, Liang added.
(Reporting by Cheng Leng, and Ryan Woo in Beijing)
Source: Reuters
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