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China Post will begin selling rare Year of the Dog collector's stamps on Friday in preparation for Chinese New Year.
China allowed foreign capital to take control of futures companies, mutual fund management companies and securities firms last year. In July, the office of the financial stability and development committee under the State Council, China's Cabinet, announced the full removal of foreign ownership caps in those sectors in 2020.
China and India had good high-level interaction this year when President Xi Jinping met with Indian Prime Minister Narendra Modi in the Kazakh capital Astana earlier this month, and India has just joined the Shanghai Cooperation Organization.
China accounts for over a third of global luxury consumption and the crisis has already cost Italy's fashion sector millions of euros, the media reported.
China also may make more investments in infrastructure, and keep its monetary stance at an appropriate level to stabilize the economy, said Louis Kuijs, head of Asia Economics at Oxford Economics. Policymakers are expected to take further measures that could "include possibly more reserve requirement ratio cuts (to banks' cash reserves), additional support for infrastructure and further cuts in taxes and social security contributions".
