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    PBOC: China still faces "relatively large" downward pressure Dhwani Mehta

    The Chinese central bank, PBOC, in its latest report published on Monday, suggests various efforts to stem growth in the ailing Chinese economy.Key Quotes:Hopes to keep economic growth within reasonable rangeExpects mild acceleration in inflationWill strictly control addition of industrial capacityWill proactively deal with zombie firmsWill effectively fend odd systemic financial risksWill continue to promote market-based interest rate mechanismWill improve FX rate formation mechanism

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