Any sudden move to curb financing in China could undermine the vital property market and, by extension, the economy at large, said Xu Nuojin, deputy director of the statistics department of the People's Bank of China. "On the one hand, we must be highly vigilant on high leverage ratios, while on the other hand we must avoid simply taking blind measures to cut leverage. We should solve the high leverage ratio problem in a gradual and healthy way, including by maintaining sustainable economic growth," Xu said in remarks published in the China Securities Journal.

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