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Report: China’s economic development in ‘L’ mode

Experts say China’s economic development is in an L-shape pattern of growth, rather than a U or V, which means it will become steady after the slowdown.

According to report in the People’s Daily, experts believe the “L” model will last for a certain period of time, longer than one or two years. The report says China should stick on an active financial policy and prudent monetary policy, and should not use high leverage to boost growth. The experts say stock, forex and property markets should play their original function, and should not be used as measures to guarantee economic growth.