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China goes after monopolies, promotes budget housing

Central Economic Work Conference highlights 'triple pressures' in report

Chinese President Xi Jinping, center, along with Chinese leaders, attend the annual Central Economic Work Conference in Beijing on Dec. 10. (Xinhua via AP)

SHANGHAI -- China on Friday vowed to beef up anti-monopoly regulations and expedite construction of affordable homes among a slew of economic measures designed to prop up economic stability in the coming year.

In a statement released by Xinhua, the state news organization, the government warned of a "more complex, grim and uncertain" external economic environment amid the ongoing COVID-19 pandemic.

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