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CHINA PRESS: China should temporarily let the deficit exceed the 3% ratio of the
GDP to stabilize economic growth, said China Business News on Sunday citing
Huang Yiping, a member of the PBOC's Monetary Policy Committee. The health of
the balance sheet is more important than the deficit ratio, Huang was reported
as saying. The balance sheet of the central government is healthy, but that of
local government is not, the newspaper reported Huang as saying.