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China's currency rebounds as optimism returns

Beijing has not solved its problems, but investors and economists say its efforts to keep economy under control have restored some faith in country's economic stewardship

The currency's rally is partly political. China is preparing for a twice-a-decade Party Congress. President Xi Jinping has made clear he wants stability until then in practically every aspect of the country, including the economy.


FOR those who worry about the state of the world economy, China has long been a major reason to lose sleep. Its financial system labours under a mountain of loans, while weaker growth has prompted many Chinese people and companies to move their money overseas in recent years....

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