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CHINA PRESS: China should respond to internal and external pressures in the
second half of the year by focussing on financial reforms and rely on
consumption to drive growth, according to a leading economist. Writing in the
PBOC-operated Financial News on Thursday, Cheng Shi, chief economist at ICBC
International, said China should focus less on investment to underpin growth,
and stop using the property market as a "countercyclical tool" to stimulate the
economy in the short-term.