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Beijing Ups Pressure On Local Governments To Stabilise Growth

MNI (Singapore)

Local governments are required to effectively implement pro-growth policies and stabilize the economy, according to a statement on the government's website following the State Council executive meeting chaired by Premier Li Keqiang. China will strengthen policy support to the transportation and logistics sectors via a 10% reduction in toll roads for trucks and a 20% cut in cargo port charges in Q4, the statement said. The smooth operation of ports, cargo terminals and main roads should be ensured and excessive Covid curbs should be avoided, the statement said.

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