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China Capable Of Returning To 5% Growth - Advisor

CHINA PRESS
MNI (Singapore)

China should be able to stabilise the economy and return to a growth rate of around 5% if Covid outbreaks are controlled, China Newsweek reported citing Liu Yuanchun, president of Shanghai University of Finance and Economics. China’s current inflation is not high and the growth rate of some central and western regions can still reach 6-7%, Liu was cited as saying. The domestic demand-led growth model will show its strength as policies to promote consumption and investment kick in. Liu said to expand domestic demand, it was essential to reform the income distribution system and stimulate the vitality of the private economy and state-owned economy, as well as foreign enterprises in China.

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