China announces $586 billion stimulus plan

BEIJING (AP) — China announced a $586 billion stimulus package Sunday in its biggest move to stop the global financial crisis from hitting the world’s fourth-largest economy. A statement on the government’s Web site said China’s Cabinet had approved a plan to invest the amount in infrastructure and social welfare by the end of 2010. Some of the money will come from the private sector. The statement did not say how much of the spending is on new projects and how much is for ventures already in the pipeline that will be speeded up.



----
Contact The Daily Reveille's news staff at news@lsureveille.com

Comments

Be the first to comment on this article!

Add comment


I am not posting spam. I understand posting spam or other comments that are unrelated to this article will cause my comment to be flagged for deletion and possibly cause my IP address to be permanently banned from this server.

Verify you are human:

Enter the characters in the image above: