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Li said the State Council, or China's cabinet, has been making efforts to improve the management of LGFVs since June 2010. Currently existing LGFVs are operating in accordance with market rules and banks have also improved management concerning loans to LGFVs, Li said.

Although Li did not give an exact date for when the final numbers will be released, the estimate still surprised many who thought China's charity sector had sustained irrevocable damage after the sector's credibility was tarnished by embezzlement scandals that surfaced last year.

BEIJING, April 1 (Xinhua) -- China's Purchasing Managers Index (PMI), a preliminary readout of the country's manufacturing activity, rose for four consecutive months to the highest level since October, indicating the economy is on path of steady growth.

The announcement follows an earlier decision by the U.S. to impose anti-subsidy duties ranging from 2.9 percent to 4.73 percent on imported crystalline silicon photovoltaic (PV) cells from China.

The Report on the Work of the Government made it clear that the focus of economic work this year is expanding domestic demand, particularly consumer demand.