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, the State Secretariat for Economic Affairs reported on Tuesday. Private consumption rose 0.2% from the fourth quarter, driven mainly by housing and health care as well as banking services and insurance, the agency said. Consumption spending on food and clothing fell, the secretariat in places like Hong Kong and Singapore. Such outsourcing is illegal in Korea. "Such practices are part of the foreign banks' desire to manage their entire Asian portfolio," Kim said. "In cases of big investment banks, trading on a regional level can have a great impact on the domestic financial markets as such management can lead to sharp changes to the portfolios of the banks' local branches." The FSS plans to inspect 15 foreign banks operating in Korea every year to monitor their fund management from this year, citing the need to proactively manage potential market risks. "Foreign banking branches (in Korea) are considered to have a great effect in increasing the volatility of capital flows in and out of the market," the FSS said in a separate statement, adding such branches tend to take on short-term foreign currency borrowings to conduct derivatives or government bonds trading. Kim told reporters HSBC Holdings PLC and Credit Agricole S.A. have already been sanctioned for improper outsourcing of operations involving derivatives. He added that another European bank may be sanctioned foter China and South Asia, said Tuesday. Midha also said China is now Dell's second-biggest market by revenue and the company plans to double its number of service centers in the country to 2,000 this year. There are currently 15,000 retail stores selling Dell products in China and the company has to boost that number to increase its presence in smaller Chinese cities, he said. Dell last year announced plans to open