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MNI (Singapore)

China will promote consumption to underpin the economy, as well as stabilise trade and foreign investment, Shanghai Securities News reported following a Ministry of Commerce meeting outlining work for next year. Efforts should promote the upgrade of urban and rural consumption and meet people’s demands for mid-to-high-end products and services, the newspaper said citing Chen Lifen, research fellow at the Development Research Center of the State Council. It is necessary to strengthen cross-cycle policies to stabilise imports and exports, and attract more foreign investment and expand opening markets, the meeting said.

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