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The
country will "prioritize the restoration and expansion of
consumption, stabilize bulk consumption and promote consumption
of services," Zheng Shanjie, head of the state economic planning
body, was quoted as saying at a meeting held on Tuesday.
China will also accelerate reforms aimed at expanding the
country's middle-income bracket, Zheng said.
The government has in recent months unveiled a series of
measures to shore up a feeble post-pandemic economic recovery,
held back by a property slump, local government debt risks and
slow global growth.
China will deepen its market-oriented reforms and institutional
opening up to boost development, according to Zheng.
The country will also prevent and resolve risks in key
areas......" co-ordinate the resolution of risks in real estate,
local government debt, and small and medium-sized financial
institutions."
Zheng also said China needs to step up its development of high
technology to overcome a blockade on technology exports imposed
by some countries.
"(China) must accelerate breakthroughs in key core technologies,
achieve a high level of scientific and technological
self-reliance, and avoid technologies and industries being
'locked' in the low-end and middle-end."
(Reporting by Liangping Gao, Ella Cao and Kevin Yao; Editing by
Hugh Lawson and Sharon Singleton)
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