The Chinese government is pumping another Rmb130 billion ($19 b) into the economy, more than doubling an earlier injection of Rmb100 b, the government-owed Xinhuanet reported Tuesday, citing as its source an anonymous official at the National Development and Reform Commission. The report confirms figures mentioned in a Financial Times interview 1 February with Premier Wen Jiabao during his visit to London. Details about how the money will be spent are still sketchy, but it will go to mainly to building China’s infrastructure – roads and housing are high on the list, says Xinhua.
Posted by Ellen Wallace on 3 February 2009 at 21:09 | permalink
This work by genevalunch.com is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.
News story, GenevaLunch, 3 February 2009.
Filed under: World news
Tags: bailout, cash injection, China, economic stimulus
We are happy to have your comments, which are approved before they appear: please remember to be courteous and brief. We accept only comments directly related to an article. We do not accept comment spam - messages sent to more than one site. We do not publish comments if the e-mail address is not legitimate. Thank you!