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China Economy Faces Further Downward Pressure: Premier Li

CHINA PRESS
MNI (Singapore)

China’s economy faces greater downward pressure with some complex uncertainties greater than expected, Xinhua News Agency said following a meeting of the State Council on Wednesday chaired by Premier Li Keqiang. China should flexibly use refinancing and other monetary tools at the right time to boost support for the real economy, including greater monetary policy impact, keeping liquidity reasonable and increasing loans to small businesses, Xinhua said. China will also increase support for those businesses in difficulties, such as those in retail and tourism, by waiving off their pension contributions, as well as increasing assistance for the unemployed, Xinhua said.

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