China to deliver promised stimulus by end of 2010
By Reuters, |
BEIJING: The Chinese government will deliver on its commitment to spend 1.18 trillion yuan ($173 billion) before the end of 2010, the core of the country's stimulus package, Vice Finance Minister Zhang Shaochun said Thursday. (Watch)
Zhang also said that China was on track to achieve its budget targets this year. The central government has been aiming for a fiscal deficit of 950 billion yuan, or roughly 3 per cent of GDP.
Mu Hong, Deputy Director General of the National Development and Reform Commission, told reporters at the same news conference that the government will aim to keep investment running at a pace similar to this year in 2010.
Urban investment was up 32.1 percent in the first 11 months compared with a year earlier.
Zhang also said that China was on track to achieve its budget targets this year. The central government has been aiming for a fiscal deficit of 950 billion yuan, or roughly 3 per cent of GDP.
Mu Hong, Deputy Director General of the National Development and Reform Commission, told reporters at the same news conference that the government will aim to keep investment running at a pace similar to this year in 2010.
Urban investment was up 32.1 percent in the first 11 months compared with a year earlier.
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