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CHINA PRESS: If reform of the real economy is not carried out effectively and
problems including overcapacity, zombie companies and asset bubbles continue to
exist, monetary policy will not be able to help with the effective allocation of
capital, Xia Bin, a counselor at China's State Council, said in an interview
with The Paper published on Tuesday. If financial reform progresses ahead of
reform of the real economy, then financial reform will not see a good outcome,
Xia said. (The Paper)