China’s Central Bank head outlined a strategy to prevent a future financial crisis

Almaty. November 6. Silkroadnews - The head of the Central Bank of China outlined a strategy to prevent a future financial crisis, The Sydney Morning Herald wrote.
“China’s central bank boss spelt out his strategy to prevent a future financial crisis, urging broadened equity funding and direct finance to reduce corporate leverage and eliminate “zombie” companies,” the report said.
According to Zhou Xiaochuan, Governor of the People’s Bank of China, the market should play a “decisive role” in allocation of financial resources. He noted that in preventing systemic financial risks, China should deal with “both cause and symptoms” and be active in “both pre-emptive measures and reactive solutions.”
Zhou spoke about the risks of a “Minsky moment”, meaning a sudden collapse in asset prices after long periods of growth caused by debt or currency pressure.