Chinese Provinces Propose $1.4 Trillion Stimulus

Joe McDonald reports for the Associated Press:

Provincial Chinese governments have proposed more than $1 trillion in spending on roads and other projects on the heels of a massive national stimulus package designed to shield China from a global slowdown, state TV reported Sunday.

The central government’s announcement of a 4 trillion yuan ($586 billion) stimulus earlier this month electrified investors and briefly boosted global markets. But as details were released, it became clear China’s plan included less new spending than initially thought. Similar concerns are already being raised about Sunday’s proposals.

The key to the national package’s success will be its ability to reassure consumers, which makes its emotional impact as important as its actual size and gives Communist leaders an incentive to embellish figures.

Also see China’s Stimulus Race Sparks Fears of Excess from the Wall Street Journal.

CDT EBOOKS

Subscribe to CDT

SUPPORT CDT

Browsers Unbounded by Lantern

Now, you can combat internet censorship in a new way: by toggling the switch below while browsing China Digital Times, you can provide a secure "bridge" for people who want to freely access information. This open-source project is powered by Lantern, know more about this project.

Google Ads 1

Giving Assistant

Google Ads 2

Anti-censorship Tools

Life Without Walls

Click on the image to download Firefly for circumvention

Open popup
X

Welcome back!

CDT is a non-profit media site, and we need your support. Your contribution will help us provide more translations, breaking news, and other content you love.