China turned to its old standby policy of using government spending to boost economic growth, rolling out a mini-package of stimulus measures on Wednesday to ensure that the government meets its economic targets this year.
China’s State Council, or cabinet, unveiled a combination of stepped up spending on railways, upgraded housing for low-income households and tax relief for struggling small businesses, the central government said on its main website Wednesday.
The package was announced just as growth appeared to be losing steam. China has set a target of economic growth of about 7.5% for this year, below the 7.7% recorded last year and well beneath the levels of recent years.
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William Kazer and Liyan Qi, Wall Street Journal via CHINA US Focus http://ift.tt/1pRhI2V
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