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China identifies reform and consumption as future growth driversChina’s economic growth slipped to 7.4 percent in the first quarter,signaling more downward pressure for the world’s second largest economy.However,authorities have ruled out the possibility of major stimulus to fight short-term dips in growth and plan to seek growth momentum through deep-seated reforms and reinvigorated domestic consumption.
China identifies reform and consumption as future growth drivers China’s economic growth slipped to 7.4 percent in the first quarter, signaling more downward pressure for the world’s second largest economy. Despite, authorities have ruled out the possibility of major stimulus to fight short-term dips in growth and plan to seek growth momentum through deep-seated reforms and reinvigorated domestic consumption.