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China pledged to step up measures to shore up its troubled banks and small businesses while continuing a crackdown on shadow banking and property speculation, in a difficult balancing act that risks exacerbating a buildup in bad debt at its traditional lenders.

As concerns mount over the state of China’s $45 trillion financial system, the nation’s central bank and its top financial regulator used the year’s first weekend to unveil fresh details on how to combat risks amid the slowest economic expansion in three decades.

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