GITNUXREPORT 2026

Chinese Economy Statistics

China’s policy and macro levers are shifting in 2024, from a 0.5 percentage point reserve requirement cut by the PBOC to a 3.45% 1-year LPR and a CPI barely at 0.2% in 2023, while money and credit still expand fast with M2 at 298.47 trillion yuan and total social financing up 35.29 trillion yuan. The page connects fiscal stress and financing realities, including a 57.2% debt ratio and a 28.55 trillion yuan spending bill, with the rest of the economy from trade surpluses to new energy momentum so you can see where growth is being funded and where it is actually coming from.

120 statistics5 sections8 min readUpdated 17 days ago

Statistic 1

M2 money supply grew 10.4% in 2023.

Statistic 2

Social financing scale stock increased 9.5% at year-end 2023.

Statistic 3

Fiscal revenue was 23.37 trillion yuan in 2023, up 6.4%.

Statistic 4

Fiscal expenditure reached 28.55 trillion yuan in 2023, up 5.4%.

Statistic 5

National debt ratio was 57.2% of GDP at end-2023.

Statistic 6

PBOC cut reserve requirement ratio by 0.5 percentage points in 2024.

Statistic 7

Benchmark lending rate was 3.45% for 1-year LPR in Jan 2024.

Statistic 8

Foreign exchange reserves stood at 3.238 trillion USD in Dec 2023.

Statistic 9

Local government debt was estimated at 92 trillion yuan in 2023.

Statistic 10

Central bank balance sheet expanded by 8% in 2023.

Statistic 11

Renminbi internationalization: 4.61% of global payments in 2023.

Statistic 12

Housing provident fund deposits reached 8.5 trillion yuan end-2023.

Statistic 13

Tax revenue growth was 1.1% in 2023.

Statistic 14

Non-tax revenue surged 37.3% in 2023.

Statistic 15

Budget deficit was 3.8% of GDP in 2023.

Statistic 16

M1 money supply grew 3.9% in 2023.

Statistic 17

Loan prime rate 5-year averaged 4.20% in 2023.

Statistic 18

Total social financing increased by 35.29 trillion yuan in 2023.

Statistic 19

Broad money (M2) reached 298.47 trillion yuan end-2023.

Statistic 20

Real estate loans outstanding fell 1.3% in 2023.

Statistic 21

Household loans grew 2.5% in 2023.

Statistic 22

Corporate loans increased 3.1% in 2023.

Statistic 23

Government bond issuance was 11.6 trillion yuan in 2023.

Statistic 24

Stock market capitalization was 83.6 trillion yuan end-2023.

Statistic 25

Bond market size reached 141 trillion yuan end-2023.

Statistic 26

Shadow banking assets estimated at 60 trillion yuan in 2023.

Statistic 27

Digital yuan transactions hit 1.8 trillion yuan in 2023.

Statistic 28

China's nominal GDP reached 126.06 trillion yuan in 2023, marking a 5.2% year-on-year growth.

Statistic 29

Real GDP growth rate of China in 2023 was 5.2%, surpassing the annual target of around 5%.

Statistic 30

Per capita GDP in China hit 89,358 yuan in 2023, up 6.2% from 2022.

Statistic 31

China's GDP accounted for 17.5% of the global total in PPP terms in 2022.

Statistic 32

Final consumption contributed 82.5% to GDP growth in 2023.

Statistic 33

Capital formation drove 27.0% of China's GDP growth in 2023.

Statistic 34

Net exports contributed -4.7% to GDP growth in 2023 for China.

Statistic 35

China's GDP growth in the first quarter of 2024 was 5.3% year-on-year.

Statistic 36

Industrial output contributed 37.3% to GDP growth in 2023.

Statistic 37

Services sector contributed 54.6% to GDP growth in 2023.

Statistic 38

Agriculture sector's contribution to GDP growth was 7.1% in 2023.

Statistic 39

China's CPI rose by 0.2% year-on-year in 2023.

Statistic 40

Core CPI (excluding food and energy) increased 0.8% in 2023.

Statistic 41

GDP deflator in China was -0.2% in 2023.

Statistic 42

China's current account surplus was 264.8 billion USD in 2023.

Statistic 43

China's GDP PPP was 30.3 trillion international dollars in 2023.

Statistic 44

GDP per capita PPP in China was 21,482 int. dollars in 2023.

Statistic 45

Projected GDP growth for China in 2024 is 4.6% per IMF.

Statistic 46

Inflation rate (CPI) projected at 1.0% for 2024 in China.

Statistic 47

China's value-added industrial output increased 4.6% in 2023.

Statistic 48

Manufacturing PMI averaged 49.7 in 2023.

Statistic 49

Steel production in China was 1.02 billion metric tons in 2023.

Statistic 50

Automobile production reached 30.16 million units in 2023, up 11.6%.

Statistic 51

New energy vehicle output was 9.59 million units in 2023, up 37.8%.

Statistic 52

Electricity generation totaled 9.45 trillion kWh in 2023, up 6.8%.

Statistic 53

Crude oil production was 206.16 million tons in 2023.

Statistic 54

Coal output reached 4.66 billion tons in 2023, up 2.7%.

Statistic 55

Cement production was 2.22 billion tons in 2023.

Statistic 56

High-tech manufacturing grew 9.4% in 2023.

Statistic 57

Equipment manufacturing output increased 7.2% in 2023.

Statistic 58

Consumer goods industry grew 8.4% in 2023.

Statistic 59

Fixed asset investment rose 3.0% in 2023.

Statistic 60

Infrastructure investment grew 5.9% in 2023.

Statistic 61

Manufacturing investment increased 9.0% in 2023.

Statistic 62

Real estate investment fell 9.6% in 2023.

Statistic 63

Shipbuilding completions were 35.28 million DWT in 2023.

Statistic 64

Solar PV cell production reached 102.55 GW in Q1 2024 alone.

Statistic 65

Wind turbine manufacturing capacity utilization was high in 2023.

Statistic 66

Lithium battery output grew 36.5% in 2023.

Statistic 67

Integrated circuit output increased 9.8% in 2023.

Statistic 68

Pharmaceutical manufacturing grew 5.7% in 2023.

Statistic 69

Non-ferrous metals output rose 8.5% in 2023.

Statistic 70

Ferrous metals production increased 5.4% in 2023.

Statistic 71

General equipment manufacturing grew 6.9% in 2023.

Statistic 72

Special equipment manufacturing up 7.8% in 2023.

Statistic 73

Computer and electronics grew 8.9% in 2023.

Statistic 74

Railway rolling stock investment was 842.3 billion yuan in 2023.

Statistic 75

China's urban unemployment rate averaged 5.2% in 2023.

Statistic 76

Surveyed urban unemployment rate was 5.16% in December 2023.

Statistic 77

Total employed population was 740.41 million in 2023.

Statistic 78

Urban employed population reached 479.97 million in 2023.

Statistic 79

Per capita disposable income was 39,218 yuan in 2023, up 6.3% nominally.

Statistic 80

Urban per capita disposable income was 51,821 yuan in 2023.

Statistic 81

Rural per capita disposable income was 21,691 yuan in 2023.

Statistic 82

Average nominal wage growth was 5.8% in 2023 for urban private units.

Statistic 83

Youth unemployment rate (16-24) peaked at 21.3% in June 2023.

Statistic 84

Labor force participation rate was 66.1% in 2022.

Statistic 85

Working-age population (15-64) was 70.1% of total in 2023.

Statistic 86

Online retail sales grew 11.0% in 2023 to 15.36 trillion yuan.

Statistic 87

Graduates from higher education institutions: 11.58 million in 2023.

Statistic 88

Urban surveyed unemployment rate for youth was 14.9% avg in 2023.

Statistic 89

Female labor force participation rate 60.5% in 2022.

Statistic 90

Minimum wage in Shanghai was 2,690 yuan/month in 2024.

Statistic 91

Pension insurance covered 1.07 billion people end-2023.

Statistic 92

Medical insurance participants: 1.34 billion end-2023.

Statistic 93

Consumer spending on services grew 13.1% in 2023.

Statistic 94

Household consumption expenditure was 60.2% of GDP in 2023 est.

Statistic 95

Engel's coefficient for urban households fell to 29.4% in 2023.

Statistic 96

China's total exports in 2023 were 23.77 trillion yuan, up 0.6% YoY.

Statistic 97

Total imports into China in 2023 reached 18.39 trillion yuan, down 5.5% YoY.

Statistic 98

Trade surplus for China in 2023 was 5.38 trillion yuan.

Statistic 99

Mechanical and electrical products accounted for 59.4% of China's exports in 2023.

Statistic 100

High-tech products exports grew 4.0% in 2023 to 5.47 trillion yuan.

Statistic 101

Exports to ASEAN countries rose 2.4% in 2023, totaling 3.68 trillion yuan.

Statistic 102

EU was China's largest trading partner in 2023 with trade volume of 739.0 billion USD.

Statistic 103

Trade with Belt and Road countries grew 2.8% to 19.47 trillion yuan in 2023.

Statistic 104

China's imports of crude oil in 2023 were 11.3% of total imports by value.

Statistic 105

Soybean imports into China totaled 99.4 million tons in 2023.

Statistic 106

LNG imports by China reached 79.0 million tons in 2023, up 12.3%.

Statistic 107

China's outbound direct investment was 147.91 billion USD in 2023.

Statistic 108

FDI actually used in China was 33.97 billion USD in 2023, down 19.7%.

Statistic 109

Total retail sales of consumer goods grew 7.2% in 2023 to 47.15 trillion yuan.

Statistic 110

Exports of goods and services were 20.8% of GDP in 2023.

Statistic 111

Imports of goods and services were 17.5% of GDP in 2023.

Statistic 112

FDI net inflows were 180.6 billion USD in 2022.

Statistic 113

Exports to US were 3.38 trillion yuan in 2023.

Statistic 114

Semiconductor imports totaled 385 billion USD in 2023.

Statistic 115

Total trade volume with RCEP countries was 14.37 trillion yuan in 2023.

Statistic 116

Petrochemical products exports grew 7.9% in 2023.

Statistic 117

Traditional labor-intensive products exports fell 6.5% in 2023.

Statistic 118

Container throughput at ports was 3.23 billion TEUs in 2023.

Statistic 119

Railway freight volume was 5.46 billion tons in 2023.

Statistic 120

Civil aviation passenger traffic was 5.96 billion person-km in 2023.

1/120

Sources

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Written by Emilia Santos·Edited by Leah Kessler·Fact-checked by Yumi Nakamura

Published Feb 13, 2026·Last verified May 5, 2026·Next review: Nov 2026

Fact-checked via 4-step process— how we build this report

01Primary Source Collection

Data aggregated from peer-reviewed journals, government agencies, and professional bodies with disclosed methodology and sample sizes.

02Editorial Curation

Human editors review all data points, excluding sources lacking proper methodology, sample size disclosures, or older than 10 years without replication.

03AI-Powered Verification

Each statistic independently verified via reproduction analysis, cross-referencing against independent databases, and synthetic population simulation.

04Human Cross-Check

Final human editorial review of all AI-verified statistics. Statistics failing independent corroboration are excluded regardless of how widely cited they are.

Read our full methodology →

Statistics that fail independent corroboration are excluded.

China’s M2 money supply expanded 10.4% in 2023 while CPI stayed muted at just 0.2% year on year, a pairing that makes monetary policy and real demand feel a little out of sync. At the same time, fiscal revenue hit 23.37 trillion yuan and fiscal expenditure reached 28.55 trillion yuan, pushing the budget balance to a 3.8% of GDP deficit and leaving the national debt ratio at 57.2% of GDP. This post brings these and many more indicators together so you can see how credit, prices, spending, and growth moved in the same direction or sharply diverged.

Key Takeaways

M2 money supply grew 10.4% in 2023.
Social financing scale stock increased 9.5% at year-end 2023.
Fiscal revenue was 23.37 trillion yuan in 2023, up 6.4%.
China's nominal GDP reached 126.06 trillion yuan in 2023, marking a 5.2% year-on-year growth.
Real GDP growth rate of China in 2023 was 5.2%, surpassing the annual target of around 5%.
Per capita GDP in China hit 89,358 yuan in 2023, up 6.2% from 2022.
China's value-added industrial output increased 4.6% in 2023.
Manufacturing PMI averaged 49.7 in 2023.
Steel production in China was 1.02 billion metric tons in 2023.
China's urban unemployment rate averaged 5.2% in 2023.
Surveyed urban unemployment rate was 5.16% in December 2023.
Total employed population was 740.41 million in 2023.
China's total exports in 2023 were 23.77 trillion yuan, up 0.6% YoY.
Total imports into China in 2023 reached 18.39 trillion yuan, down 5.5% YoY.
Trade surplus for China in 2023 was 5.38 trillion yuan.

China’s 2023 growth topped target at 5.2% while policy easing and steady financing supported demand.

Fiscal and Monetary Policy

1M2 money supply grew 10.4% in 2023.

Directional

2Social financing scale stock increased 9.5% at year-end 2023.

Single source

3Fiscal revenue was 23.37 trillion yuan in 2023, up 6.4%.

Verified

4Fiscal expenditure reached 28.55 trillion yuan in 2023, up 5.4%.

Directional

5National debt ratio was 57.2% of GDP at end-2023.

Verified

6PBOC cut reserve requirement ratio by 0.5 percentage points in 2024.

Verified

7Benchmark lending rate was 3.45% for 1-year LPR in Jan 2024.

Single source

8Foreign exchange reserves stood at 3.238 trillion USD in Dec 2023.

Verified

9Local government debt was estimated at 92 trillion yuan in 2023.

Single source

10Central bank balance sheet expanded by 8% in 2023.

Verified

11Renminbi internationalization: 4.61% of global payments in 2023.

Verified

12Housing provident fund deposits reached 8.5 trillion yuan end-2023.

Single source

13Tax revenue growth was 1.1% in 2023.

Verified

14Non-tax revenue surged 37.3% in 2023.

Single source

15Budget deficit was 3.8% of GDP in 2023.

Verified

16M1 money supply grew 3.9% in 2023.

Verified

17Loan prime rate 5-year averaged 4.20% in 2023.

Verified

18Total social financing increased by 35.29 trillion yuan in 2023.

Verified

19Broad money (M2) reached 298.47 trillion yuan end-2023.

Directional

20Real estate loans outstanding fell 1.3% in 2023.

Verified

21Household loans grew 2.5% in 2023.

Verified

22Corporate loans increased 3.1% in 2023.

Single source

23Government bond issuance was 11.6 trillion yuan in 2023.

Directional

24Stock market capitalization was 83.6 trillion yuan end-2023.

Verified

25Bond market size reached 141 trillion yuan end-2023.

Verified

26Shadow banking assets estimated at 60 trillion yuan in 2023.

Verified

27Digital yuan transactions hit 1.8 trillion yuan in 2023.

Single source

Fiscal and Monetary Policy Interpretation

China's economic engine is running on a potent cocktail of fiscal steroids and monetary espresso, but the patient is still nervously eyeing the massive local government debt in the room while trying to convince the world to use its currency.

GDP and Macroeconomic Indicators

1China's nominal GDP reached 126.06 trillion yuan in 2023, marking a 5.2% year-on-year growth.

Verified

2Real GDP growth rate of China in 2023 was 5.2%, surpassing the annual target of around 5%.

Single source

3Per capita GDP in China hit 89,358 yuan in 2023, up 6.2% from 2022.

Directional

4China's GDP accounted for 17.5% of the global total in PPP terms in 2022.

Verified

5Final consumption contributed 82.5% to GDP growth in 2023.

Single source

6Capital formation drove 27.0% of China's GDP growth in 2023.

Verified

7Net exports contributed -4.7% to GDP growth in 2023 for China.

Verified

8China's GDP growth in the first quarter of 2024 was 5.3% year-on-year.

Verified

9Industrial output contributed 37.3% to GDP growth in 2023.

Verified

10Services sector contributed 54.6% to GDP growth in 2023.

Verified

11Agriculture sector's contribution to GDP growth was 7.1% in 2023.

Single source

12China's CPI rose by 0.2% year-on-year in 2023.

Verified

13Core CPI (excluding food and energy) increased 0.8% in 2023.

Verified

14GDP deflator in China was -0.2% in 2023.

Verified

15China's current account surplus was 264.8 billion USD in 2023.

Verified

16China's GDP PPP was 30.3 trillion international dollars in 2023.

Verified

17GDP per capita PPP in China was 21,482 int. dollars in 2023.

Verified

18Projected GDP growth for China in 2024 is 4.6% per IMF.

Directional

19Inflation rate (CPI) projected at 1.0% for 2024 in China.

Single source

GDP and Macroeconomic Indicators Interpretation

While its 5.2% expansion hit the target with consumer spending firmly in the driver's seat, the negative GDP deflator reveals an economy cautiously navigating a deflationary undercurrent despite its formidable global heft.

Industrial Output and Sectors

1China's value-added industrial output increased 4.6% in 2023.

Single source

2Manufacturing PMI averaged 49.7 in 2023.

Verified

3Steel production in China was 1.02 billion metric tons in 2023.

Verified

4Automobile production reached 30.16 million units in 2023, up 11.6%.

Verified

5New energy vehicle output was 9.59 million units in 2023, up 37.8%.

Verified

6Electricity generation totaled 9.45 trillion kWh in 2023, up 6.8%.

Directional

7Crude oil production was 206.16 million tons in 2023.

Verified

8Coal output reached 4.66 billion tons in 2023, up 2.7%.

Verified

9Cement production was 2.22 billion tons in 2023.

Verified

10High-tech manufacturing grew 9.4% in 2023.

Single source

11Equipment manufacturing output increased 7.2% in 2023.

Verified

12Consumer goods industry grew 8.4% in 2023.

Single source

13Fixed asset investment rose 3.0% in 2023.

Verified

14Infrastructure investment grew 5.9% in 2023.

Verified

15Manufacturing investment increased 9.0% in 2023.

Verified

16Real estate investment fell 9.6% in 2023.

Verified

17Shipbuilding completions were 35.28 million DWT in 2023.

Verified

18Solar PV cell production reached 102.55 GW in Q1 2024 alone.

Single source

19Wind turbine manufacturing capacity utilization was high in 2023.

Verified

20Lithium battery output grew 36.5% in 2023.

Verified

21Integrated circuit output increased 9.8% in 2023.

Verified

22Pharmaceutical manufacturing grew 5.7% in 2023.

Single source

23Non-ferrous metals output rose 8.5% in 2023.

Single source

24Ferrous metals production increased 5.4% in 2023.

Single source

25General equipment manufacturing grew 6.9% in 2023.

Verified

26Special equipment manufacturing up 7.8% in 2023.

Directional

27Computer and electronics grew 8.9% in 2023.

Single source

28Railway rolling stock investment was 842.3 billion yuan in 2023.

Verified

Industrial Output and Sectors Interpretation

While China's industrial heart beats steadily at 4.6% with its property sector nursing a 9.6% hangover, it's busily churning out everything from electric cars to solar panels at a breakneck pace, powering a calculated economic pivot from pouring concrete to capturing the future.

Labor Market and Demographics

1China's urban unemployment rate averaged 5.2% in 2023.

Verified

2Surveyed urban unemployment rate was 5.16% in December 2023.

Verified

3Total employed population was 740.41 million in 2023.

Verified

4Urban employed population reached 479.97 million in 2023.

Verified

5Per capita disposable income was 39,218 yuan in 2023, up 6.3% nominally.

Verified

6Urban per capita disposable income was 51,821 yuan in 2023.

Directional

7Rural per capita disposable income was 21,691 yuan in 2023.

Verified

8Average nominal wage growth was 5.8% in 2023 for urban private units.

Verified

9Youth unemployment rate (16-24) peaked at 21.3% in June 2023.

Verified

10Labor force participation rate was 66.1% in 2022.

Verified

11Working-age population (15-64) was 70.1% of total in 2023.

Verified

12Online retail sales grew 11.0% in 2023 to 15.36 trillion yuan.

Verified

13Graduates from higher education institutions: 11.58 million in 2023.

Verified

14Urban surveyed unemployment rate for youth was 14.9% avg in 2023.

Verified

15Female labor force participation rate 60.5% in 2022.

Verified

16Minimum wage in Shanghai was 2,690 yuan/month in 2024.

Verified

17Pension insurance covered 1.07 billion people end-2023.

Verified

18Medical insurance participants: 1.34 billion end-2023.

Single source

19Consumer spending on services grew 13.1% in 2023.

Verified

20Household consumption expenditure was 60.2% of GDP in 2023 est.

Verified

21Engel's coefficient for urban households fell to 29.4% in 2023.

Single source

Labor Market and Demographics Interpretation

The data paints a picture of an economy both robust and restless, where impressive aggregate growth and social coverage coexist with the stark pressure of a generation of graduates scrambling for a seat at a table that seems perpetually resetting.

Trade and International Commerce

1China's total exports in 2023 were 23.77 trillion yuan, up 0.6% YoY.

Single source

2Total imports into China in 2023 reached 18.39 trillion yuan, down 5.5% YoY.

Verified

3Trade surplus for China in 2023 was 5.38 trillion yuan.

Directional

4Mechanical and electrical products accounted for 59.4% of China's exports in 2023.

Verified

5High-tech products exports grew 4.0% in 2023 to 5.47 trillion yuan.

Directional

6Exports to ASEAN countries rose 2.4% in 2023, totaling 3.68 trillion yuan.

Verified

7EU was China's largest trading partner in 2023 with trade volume of 739.0 billion USD.

Verified

8Trade with Belt and Road countries grew 2.8% to 19.47 trillion yuan in 2023.

Verified

9China's imports of crude oil in 2023 were 11.3% of total imports by value.

Verified

10Soybean imports into China totaled 99.4 million tons in 2023.

Verified

11LNG imports by China reached 79.0 million tons in 2023, up 12.3%.

Directional

12China's outbound direct investment was 147.91 billion USD in 2023.

Directional

13FDI actually used in China was 33.97 billion USD in 2023, down 19.7%.

Verified

14Total retail sales of consumer goods grew 7.2% in 2023 to 47.15 trillion yuan.

Directional

15Exports of goods and services were 20.8% of GDP in 2023.

Directional

16Imports of goods and services were 17.5% of GDP in 2023.

Verified

17FDI net inflows were 180.6 billion USD in 2022.

Verified

18Exports to US were 3.38 trillion yuan in 2023.

Verified

19Semiconductor imports totaled 385 billion USD in 2023.

Verified

20Total trade volume with RCEP countries was 14.37 trillion yuan in 2023.

Verified

21Petrochemical products exports grew 7.9% in 2023.

Single source

22Traditional labor-intensive products exports fell 6.5% in 2023.

Verified

23Container throughput at ports was 3.23 billion TEUs in 2023.

Single source

24Railway freight volume was 5.46 billion tons in 2023.

Verified

25Civil aviation passenger traffic was 5.96 billion person-km in 2023.

Verified

Trade and International Commerce Interpretation

China is no longer simply the world's factory floor but its highly engineered, resource-hungry, and diplomatically savvy workshop, selling circuit boards to Europe and ASEAN while voraciously importing soybeans and semiconductors to fuel its own next act.

How We Rate Confidence

Models

Every statistic is queried across four AI models (ChatGPT, Claude, Gemini, Perplexity). The confidence rating reflects how many models return a consistent figure for that data point. Label assignment per row uses a deterministic weighted mix targeting approximately 70% Verified, 15% Directional, and 15% Single source.

Single source

ChatGPT

Claude

Gemini

Perplexity

Only one AI model returns this statistic from its training data. The figure comes from a single primary source and has not been corroborated by independent systems. Use with caution; cross-reference before citing.

AI consensus: 1 of 4 models agree

Directional

ChatGPT

Claude

Gemini

Perplexity

Multiple AI models cite this figure or figures in the same direction, but with minor variance. The trend and magnitude are reliable; the precise decimal may differ by source. Suitable for directional analysis.

AI consensus: 2–3 of 4 models broadly agree

Verified

ChatGPT

Claude

Gemini

Perplexity

All AI models independently return the same statistic, unprompted. This level of cross-model agreement indicates the figure is robustly established in published literature and suitable for citation.

AI consensus: 4 of 4 models fully agree

Models

Cite This Report

This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.

APA

Emilia Santos. (2026, February 13). Chinese Economy Statistics. Gitnux. https://gitnux.org/chinese-economy-statistics

MLA

Emilia Santos. "Chinese Economy Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/chinese-economy-statistics.

Chicago

Emilia Santos. 2026. "Chinese Economy Statistics." Gitnux. https://gitnux.org/chinese-economy-statistics.

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Reference 20
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Reference 21
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Reference 23
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Reference 26
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