BEIJING (Reuters) - China's financial sector must serve the real economy, President Xi Jinping told a study session for senior Communist Party officials, state news agency Xinhua said on Saturday.

The government must strengthen the counter-cyclical adjustment role of fiscal and monetary policies, and must resolve the problem that the cost of illegal activities in capital markets is too low, said Xi, who was speaking on Friday, Xinhua added.

(Reporting by Ben Blanchard and Judy Hua; Editing by Jacqueline Wong)

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