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China pivots to ‘investing in people’ strategy as growth engine switches gears (www.scmp.com)

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China will allocate more of its fiscal spending this year towards human capital and social safety nets, as Beijing seeks to boost domestic demand and unlock new growth through “investing in people”. “Efforts must be sustained to optimise the expenditure structure, with greater emphasis on supporting the boosting of consumption, investing in people, and safeguarding people’s livelihoods,” Premier Li Qiang said in his annual work report, delivered during the opening session of the National...

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