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Economy

China pumping money into market ahead of Lunar New Year

BEIJING -- The Chinese central bank decided on additional monetary easing Wednesday to ensure that companies have money ahead of the Lunar New Year, when demand for funds typically grows.

     The People's Bank of China also hopes to dispel concerns about the economy, since the worsening of the purchasing managers' index last month appears to show that the interest rate reduction of last November has not really worked.

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