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The following lists highlights from Chinese press reports on Thursday:
- China will retaliate against the U.S. or anyone who threatens its supply chain, including through the suspension of rare-earth exports, the Global Times said in an editorial after President Biden signed an executive order excluding China from access to key technology. Countries should realize that expanding co-operation with China is more conducive to their economic security than relying on U.S. protection with humiliating conditions attached, the newspaper said.
- The Chinese economy may grow by 8.7% in 2021, with fixed asset investment expanding by 7.8% and consumption and exports at 13.8% and 5.4%, respectively, the National Business Daily reported citing Liu Shijin, deputy head of economy affairs of the Chinese People's Political Consultative Conference. Macro policies should gradually return to normal as the economy neared normal levels in Q4. Rising debt increases financial risks, though there should not be a sharp policy turn as consumption was still falling last year, the newspaper reported citing Liu.
- The Shanghai government will introduce new restrictions on housing sales, strengthen the management of commercial housing transactions including real estate agencies, and strictly regulate the purchases of commercial housing, Xinhua News Agency said citing the city government. The government of Hangzhou, the capital of neighboring Zhejiang province, will also restrict the purchase of foreclosure homes and supervise loans to control real estate, Xinhua said. China will strictly prevent the use of housing for investment and boost supplies for those in housing need, Xinhua reported citing Ni Hong, vice-minister of the Ministry of Housing and Urban-Rural Development.