riorating financials, median LGFV 05 2.5 so 2.0 30 25 IS 20 15 1.0 10 5 0.5 0.0 SROA % eIntenni coverage reti5 em r4 •11 Fd 9xxo• Dana* Ses*, nwo shea IEST basal tit am lite Ina ammo and 1150111SUMM A tightening bias in macro policies Following the 19th party congress in Oct, policymake