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The renminbi rallied to its strongest level in more than a year and Chinese equities continued their rebound on Wednesday, after a potent policy package lifted investors' confidence in the Chinese economy, which is expected to sail through headwinds. Economists, investment banks and asset managers said that policymakers' more decisive stance to shore up the economy, a global interest rate cut cycle, and low asset valuations have combined to make it a potentially good time to invest in Chinese financial assets, which are expected to attract more foreign inflow in the months ahead. However, they cautioned that the forecast may be contingent upon the implementation of further policy support to address economic challenges, with the most urgent priorities being additional fiscal spending to bolster domestic demand and direct funding to alleviate property sector woes. On Wednesday, the renminbi, or Chinese yuan, rose to 6.9951 against the US dollar in the offshore market, up 158 basis points
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