China To Deliver Promised Stimulus By End Of 2010

From Reuters:

The Chinese government will deliver on its commitment to spend 1.18 trillion yuan ($173 billion) before the end of 2010, the core of the country’s stimulus package, a deputy finance minister said on Thursday.

The central government has pledged that amount out of its own pocket to support the overall 4 trillion yuan stimulus programme, credited with helping the world’s third-largest economy recover from the impact of global financial turmoil.

The promise not to pull back could serve to reassure markets hit by concerns over tightening in the property sector and worries that tougher lending practices could slow growth from the 8.9 percent annual pace in the third quarter.

December 24, 2009 6:17 AM
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Categories: Economy