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China will take measures to further open up...>

CHINA
CHINA: China will take measures to further open up its financial market to
foreign investors, allowing them to obtain full ownership rights and acquire any
necessary licenses, especially in the areas of banking, securities, funds,
futures and life insurance, Chinese Premier Li Keqiang said during his meeting
with IMF managing director Christine Lagarde in Beijing on Tuesday, the official
website of the Chinese government reports. Li also stated that Beijing will
implement larger scale tax cuts and fee reductions and will work on more broadly
lowering market transaction costs. In terms of monetary policy, rather than
simply flooding the market with liquidity, the authorities will take a more
targeted approach by supporting private SMEs, Li added.

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