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Activity in China's factory sector edged up to a seven-month high in February but export orders shrank and deflationary pressures persisted, a private business survey showed, adding to the view that yet more interest rate cuts will be needed. Chinese policymakers are embarking on their biggest easing campaign since the depths of the global crisis as the world's second-largest economy is weighed down by a cooling property market, high debt levels and excess factory capacity. The People's Bank of China cut interest rates on Saturday, in the latest effort to support the economy as its momentum slows.
Tens of thousands of people marched in central Moscow to honour the memory of opposition leader Boris Nemtsov, who was gunned down near the Kremlin in the highest-profile assassination during Vladimir Putin's rule. A sea of grim-faced supporters, holding Russian flags and Nemtsov portraits, marched in the drizzle from a packed Moscow square to the bridge over the Moskva where the 55-year-old was shot in the back on Friday shortly before midnight. In what appeared to be the largest opposition gathering since anti-Kremlin rallies in 2011-12 brought more than 100,000 people into the streets, marchers honoured Nemtsov's memory while condemning Moscow's stance on Ukraine. "Stop the war" in Ukraine, said others.