UPDATE 1-China says cooling measures showing results

Newswire

BEIJING, June 23 (Reuters) - China said on Wednesday macroeconomic measures taken to cool its economy had yielded results but warned that investment growth rates were still "relatively" high. The State Development and Reform Commission warned of upward pressure on prices and said grain inventories were falling rapidly. The statement is the latest vote of confidence in China's cooling tactics, which include forcing banks to keep more money in reserve instead of lending, and halting new ...

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