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Wang sets out the road to recovery

CHINESE Vice Premier Wang Qishan, in an article in yesterday's Financial Times, says the economy will get worse before it gets better.

The vice premier said financial stability would be aided by keeping exchange rates stable through exchange-rate policy coordination.

He rejected protectionism, saying "it is vital unequivocally to reject protectionism of all kinds."

Wang said China would continue with its "proactive fiscal policy and moderately easy monetary policy to ensure sound and steady growth of our economy, and in so doing contribute to the recovery of the global economy."


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