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本文分析企业部门杠杆居高不下的原因,并认为从价格看,随着2016年以来PPI通货紧缩的消除和通货膨胀的出现,企业资产周转率即将触底改善。从实际利率看,2017年企业部门去杠杆速度可能加快。杠杆过高,给经济运行带来很大的风险,这是过去几年的市场和政策共识。本文接下来对此进行细化分析。企业部门杠杆居高不下例如,我们可以去计算债务占国内生产总
This article analyzes the reasons for the high corporate leverage, and believes that from the price point of view, with the elimination of PPI deflation since 2016 and the emergence of inflation, corporate asset turnover will soon bottom out to improve. From the real interest rate perspective, the deleveraging rate of the corporate sector may accelerate in 2017. Excessive leverage poses a great risk to economic performance, the market and policy consensus of the past few years. This article next detailed analysis. For example, we can go to calculate the total debt of domestic production