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Mixed news from China. This month the government is expected to sign off a huge RMB10trn ($1.5trn) package to boost China’s technological industries, including biotechology, high-end equipment manufacturing and next generation IT.

And as the remnimbi appreciates, the Chinese have a greater international spending power. Managers at China Southern Airlines are expecting to see increased inbound cargo traffic this year, soothing the problematic imbalance.

They also have no fears about the export markets, despite the possibility of a slowdown. And IATA is ...

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