China will deepen economic reforms as growth slows

BEIJING (Reuters) - China will open up more sectors to private firms and reduce direct government interference in microeconomic activities, the official Xinhua News Agency said on Monday, as Beijing seeks to accelerate economic reforms as growth slows. China will create a new regulation and control mechanism that prioritises fiscal, monetary and employment policies, pushes forward market-based interest rate reform and increases two-way fluctuations of the yuan currency, said Xinhua, citing a..