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Text of report in English by official Chinese news agency Xinhua (New China News Agency)
[Xinhua: "China Adopts Flexible Monetary Policy To Boost Economy, Cope With Crisis"]
BEIJING, Oct. 31 (Xinhua) - China's decision to cut interest rates on Thursday is part of its flexible monetary policy to cope with the world financial crisis and boost domestic economy, a central bank spokesman said on Friday.
Li Chao, spokesman of the People's Bank of China (PBOC) explained the government's cut in interest rates for the second time in one month.
On Wednesday, the PBOC announced to cut interest rates by 0.27 percentage points as of Oct. 30 to spur …