we talked about this to cbrc, he said the m2 number is the key indicator. let's hear from them. >> we saw growth in june at a record low. the government has focused on taking news out of the economy and of getting high gdp growth numbers. reducing risk and also which since 2015 has already accounted for more than half of gdp growth. betty: i want to ask you, how much more widespread do you think this deleveraging effort is going to be out of china? are they going to apply it more towards the broader economy? absolutely. that is what they have been talking about. the number one priority is the real economy. that has been a big problem. the answer has kind of taken away from the scrutiny but i think you will see a lot more scrutiny and deleveraging with enterprises, not just the financial community and the broader economy. they are worried about speculator investments and risky problems -- products being introduced. after these kinds of risk to the broader economy because that, at the end of the day, could spark unrest and a bit of financial chaos. they are t

the question is the matter of timing. , whenw head of the cbrc he says he is going to do something, heas the backing of the president, without a doubt. yvonne: you are mentioning that rings could get more interesting after the people's party congress. there could be a squeeze in the banking system. what would that look alike -- look like? reporter: in addition to the ones i talked about with betty liu, you have the question of these zombie companies. the president has mentioned on several occasions over the last couple of years that he wants to clean them up. not much has been done in that area. we are talking about coal, steel, shipping, that kind of area. all of this will fit together and they will make the banks do several things. they will make them right off these loans, instead of just extending them. they will make them raise capital where necessary. great part ofs a china, in the 1990's the size of the chinese economy was very much slower than it is today. in addition to doing what i mentioned, he had the banks rolloff a lot of these problems debts to the asset management compa