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China rolls out mini-stimulus to fight slump
Added At: 2012-05-30 8:56 AM
Last Updated At: 2012-05-30 8:56 AM
ASSOCIATED PRESS
BEIJING: China is rolling out a mini-stimulus to fight its economic slump but is moving cautiously after its massive response to the 2008 global crisis left a painful hangover of inflation and debt.
Beijing has yet to announce a total price tag. But measures announced in recent weeks include 66 billion yuan ($10 billion) to build affordable housing.
The effort is smaller than the 4 trillion yuan ($586 billion) avalanche of government spending and bank lending unleashed in 2008.
But analysts say it should be enough to drive an economic rebound and keep growth at or above 8 percent for the year.
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