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China's Cabinet issues a series of policies to stabilize the economy

China's Cabinet issues a series of policies to stabilize the economy, Reuters reports, citing the Cabinet documents.  

Key takeaways

To accelerate issuance of local govt special bonds, add new-type of infrastructure and new energy projects to project pool eligible for fundraising.

Step up vat credit rebates, ramp up fiscal spending.

Will guide actual lending rates lower.

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