China outlined a package of measures including railway spending and tax relief to support the economy and create jobs after a slowdown endangered Premier Li Keqiang's target of 7.5 percent growth this year. The government will sell 150 billion yuan ($24 billion) of bonds this year to help build railways mainly in the less-developed central and western regions, the State Council said in a statement last night after a meeting led by Li. The world's second-largest economy probably grew 7.4 percent last quarter from a year earlier, according to analysts surveyed by Bloomberg News in March, down from a previous median estimate of 7.6 percent. "It's a mini-stimulus package designed to stabilize growth," said Xu Gao, chief economist with Everbright Securities Co. in Beijing.
via Business News - Yahoo Finance http://ift.tt/1otonVz
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