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7/16, 1:51 PM (Source: TeleTrader)
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Li: China to expand investment, boost economy

China is planning on expanding investments and boosting its economy after data showed the country's GDP grew slowest in 27 years in the second quarter, Premier Li Keqiang said on Tuesday. He added that downward pressure on the economy is on the rise.

Li noted that China will continue with a proactive fiscal policy as well as a "prudent monetary policy," according to state media. The premier pointed out that China needs to work on ensuring stable economic development.

On Monday, China's National Bureau of Statistics said the country's GDP slowed down to 6.2% in the second quarter.

Breaking the News / VP