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Slashed supplementary pay for civil servants hint at China’s fiscal shortages; Xi laments PRC officials’ lack of initiative

     SinoInsight  1      China’s economy continues to underperform. Second quarter GDP growth clocked in at just 7.9 percent year-on-year, (up 1.3 percent quarter-to-quarter) lower than forecasts of over 8 percent. Also, the People’s Bank of China freed up 1 trillion yuan in a surprise reserve requirement ratio (RRR) cut effective on July 15, signaling …

Read moreSlashed supplementary pay for civil servants hint at China’s fiscal shortages; Xi laments PRC officials’ lack of initiative

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