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• China Announces Stimulus Package To Counteract Effect of Global Financial Crisis - Editor, 10 November 2008

In its biggest move yet to protect its economy from being negatively impacted by the current global financial crisis, China’s authorities have unveiled a $586 billion stimulus package. The money will be invested in developing infrastructure and social welfare by the end of 2010. The package would be focusing on ten areas, including the development of low-cost housing and the expansion of rural infrastructure. Spending will be increased on health, education and environmental protection, as well as creating new roads, airports and railways. Money will also be poured into the rebuilding of disaster areas, such as in the Sichuan Province where, in addition to the enormous loss of life, millions have been left homeless as a result of May’s earthquake.