China Produces Plan To Boost Disappointing Economic Growth
STEVE INSKEEP, HOST:
NPR's business news starts with a tiny stimulus.
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INSKEEP: China has announced a new plan to boost disappointing growth - if that's what you can call forecasts for a seven percent jump in economic activity in China. That's less than the Chinese are accustomed to. The package includes selling bonds to build more than 4,100 miles of new railways across central and western China. There's also tax relief for small business and more low income housing.
China's new package is designed to keep the country on track to reach target growth rates of seven and a half percent for this year.
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