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Local Government Special Purpose........>

CHINA PRESS
CHINA PRESS: Local Government Special Purpose Bonds will be issued in the first
half of January, reports 21st Century Business Herald citing anonymous sources,
The Herald also quotes Hua Changchun, Chief Economist with Guotai Junan
Securities, who says the People's Bank of China needs to lower the
deposit-reserve ratio to hedge the impact of the issuance on liquidity. 

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