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Li: economy still under pressure

China’s economy “faces new downward pressure,” China’s Premier Li Keqiang said during a visit to the market regulator ministry. The government needs to cut taxes and fees to solve the problems for small and medium-sized businesses, Li said, according to Bloomberg. The premier did not provide details on the causes of the downward pressure or its extent. However, the term is often used by officials to draw attention to slowing growth. According to the report, Li called for companies of all sizes to be treated equally and for greater efforts to fight monopolies and unfair competition.

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