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China's central bank said Friday that the risk of spillover from embattled property giant Evergrande to the financial sector was "controllable", breaking its silence on the company's debt troubles, state media reported.
Local authorities are "carrying out risk disposal and resolution work in accordance with the principles of rule of law and marketisation", said People's Bank of China official Zou Lan at a briefing, according to Shanghai Securities News, an outlet under the official Xinhua news agency.
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