Chinese Premier Li Keqiang said on Monday that economic growth had increased in the second quarter of the year, but that further support measures will still be necessary to steady the economy, Reuters reported. His remarks may boost market confidence ahead of China’s second-quarter economic report due July 16. Analysts polled by Reuters expect China’s growth for the April-June period to have steadied at 7.4%. To lift China’s flagging economic growth, which hit an 18-month low of 7.4% in the first quarter of 2014, authorities have cut taxes, ordered regional governments to increase spending and reduced reserve requirements for banks.
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