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Wihtol said less inflationary pressure allows China's policymakers to focus on stabilizing growth, which will provide room for further stimulus measures.

The position change followed an ABC announcement on Friday that Pan has resigned from the ABC "in line with the needs of state financial work."

Private enterprises currently account for over 70 percent of China's total enterprises. Together with individually-owned businesses, they contribute to more than 60 percent of the country's GDP, the data show.

Wang, from Yunyang County in southwest China's Chongqing Municipality, recalled that when the accident happened, he was sleeping on his upper berth, which was at the last row on the left side.

The country will move ahead with interest rate reforms and step up efforts to develop a market-oriented benchmark interest rate system, it said.