Sunday, November 23, 2008

Yuan Watch : Engine Room, more steam!

BEIJING, Nov 23 (Reuters) - Projects planned by provincial governments will bring the value of China's economic stimulus package to 10 trillion yuan ($1.46 trillion), state television said on Sunday.
The central government earlier this month announced a 4 trillion yuan stimulus package to deal with fallout from the global fiancial crisis, including rail and infrastructure projects as well as increased social spending. But there have been few details of specific new projects, as opposed to spending that has already been budgeted.

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