Text Version
RSS Feeds
Newsletter
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  SERVICES
  -Text Version
  -RSS Feeds
  -Newsletter
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
 -
 -
China details 4 trillion yuan stimulus package
+ -
10:53, November 14, 2008

 Related News
 China's urban fixed assets investment up 27.2% in first ten months
 Citic Group rescues troubled Hong Kong affiliate
 Microsoft spending $1b to boost R
 Banks to increase lending, but keep eye on risks
 Govt stimulus plan boosts chances for multinationals
 Related Channel News
· China's Action Amid Global Financial Crisis
 Comment  Tell A Friend
 Print Format  Save Article
A senior Chinese planning official told reporters here on Friday that the new 4 trillion yuan (586 billion U.S. dollars) economic stimulus package includes 1.18 trillion yuan from the central government through 2010.

Mu Hong, vice director of the National Development and Reform Commission (NDRC), said the agency would add 100 billion yuan of new investment during the fourth quarter.

The central government's investment, combined with that of businesses and local governments, would bring the total spending to 4 trillion yuan by the end of 2010, he said.

"The 4 trillion yuan is only part of the country's total investment. It is not the total," Mu said.

Officials have said that a "large part" of the total package was new money, but they have not provided specific figures.

The stimulus package was announced on Sunday amid rising concern about a sharp slowdown in the world's fourth-largest economy. China's gross domestic product grew 9 percent annually in the third quarter, down from 10.1 percent in the second quarter and 10.6 percent in the first quarter.

"To boost domestic demand has become the priority of current economic work," Mu told reporters. He added the package would stimulate both short- and long-term demand, as it would spur economic growth while transforming the type of growth.

Source: Xinhua



  Your Message:   Most Commented:
Two Chinese sue Apple for patent infringement 
Tensions high in Gaza city
Is Obama going to reshape the American image? 
World's largest pinata unveiled in Philadelphia 
China postpones summit with EU due to French leader's planned meeting with Dalai Lama 

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved

http://english.people.com.cn/90001/90776/90884/6533822.pdf