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China local gov'ts competing for investment to prevent slowdown

Special Report: Global Financial Crisis 

by Xinhua Writers Cheng Yunjie, Wang Yaguang     

WUHAN, Nov. 22 (Xinhua) -- China is rich, at least when you look at its world's largest two-trillion-U.S. dollar foreign exchange reserve and its fiscal revenue that has maintained double-digit growth for years.

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