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The Chinese government will shift its...>

CHINA PRESS
CHINA PRESS: The Chinese government will shift its focus from monetary to fiscal
policy in the following days, including issuing Special Chinese Government Bonds
and increasing the target fiscal deficit ratio as previously promised, China
Securities Journal reported citing Yan Se, the chief economist with Founder
Securities. Zhang Xu, the chief fixed-income analyst with Everbright Securities
told the Journal that Q1 data showed that every CNY100 billion in long-term
liquidity released by the central bank translated into CNY350 billion in loans.
This indicated that the money has not been trapped in the money market and the
transmission for monetary policy is obstructed, Zang said. 

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